Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
AM Best Upgrades Credit Ratings of Oklahoma Farm Bureau Mutual Group
Feb 6 2019 // AM Best has upgraded the Financial Strength Rating to B++ (Good) from B+ (Good) and the Long-Term Issuer Credit Ratings to “bbb” from “bbb-” for the members of the Oklahoma Farm Bureau Group:...
Ex-CEO of QBE N. America Duclos Named Non-Exec Chairman of Lloyd’s Global Network
Feb 6 2019 // Lloyd’s has appointed David Duclos as non-executive chairman of Lloyd’s Global Network, where he will play a key advisory role in the development of Lloyd’s international network. Duclos will take up the...
Being Independent, Nimble and Niche: Keys to SSL Endeavour’s Aim to Put Clients First
Feb 6 2019 // By creating an innovative and nimble operating platform, SSL Endeavour, London-based Lloyd’s broker, aims to attract and retain the best entrepreneurial brokers who are freed up to create innovative client solutions,...
Insurance Tries to Keep Up with Sharing Economy
Feb 4 2019 // As more and more consumers click for services and borrow rather than buy, the sharing economy is benefitting. According to Harvard Business Review, the sharing or on-demand economy is attracting more than 22.4 million...
Lloyd’s Taps Keese from Allianz as Chief Financial Officer, Succeeding Parry
Feb 4 2019 // Burkhard Keese has been confirmed as the chief financial officer (CFO) of Lloyd’s following the unanimous approval of his appointment as successor to John Parry by the Council of Lloyd’s. Keese will take up his...
Hartford Revamps Specialty Commercial, Middle Market Before Navigators Closing
Feb 4 2019 // The Hartford announced the new operating model and organizational structure that will be effective upon the closing of its pending acquisition of specialty insurer The Navigators Group, which it expects to finalize in late...
Ryan Specialty Group Acquires Assets, Operations of Boston Insurance Specialists
Feb 4 2019 // Ryan Specialty Group LLC (RSG) has acquired the assets and operations of Boston Insurance Specialists Inc. (BIS), an independently owned wholesale insurance brokerage with offices in Mansfield and Westfield, Mass. Terms of...
People
Feb 4 2019 // AmTrust Financial Services announced leadership changes as it moves forward as a private company. Its $2.95 billion privatization plan was finalized on November 28, 2018 after receipt of all approvals. AmTrust announced...
Texas Brokers Have Until Feb. 28 to Correct Late-Filed Surplus Lines Policies
Feb 3 2019 // Brokers who file Texas surplus lines policies with SLTX will have until Feb. 28, 2019, at 5 p.m. central time to file any necessary adjustment forms or make corrections before the annual late filers report is produced, the...
SIS Wholesale Insurance Services Launches Online Commercial Excess Program
Feb 1 2019 // Safebuilt Insurance Services, Inc. dba SIS Wholesale Insurance Services, a national commercial lines insurance program administrator, has launched an online Commercial Excess Liability program. This program offers follow...
AM Best Says Specialty Insurer Exposures to PG&E Bankruptcy Within Risk Appetites
Feb 1 2019 // Specialty companies specifically operating in the utility sector are likely to face substantial claims and losses stemming from the bankruptcy filing by PG&E Corp., the California utility whose equipment is being...
Underwriting Platform elseco Agrees to Buy MGA, Selected Renewal Rights from StarStone
Jan 31 2019 // Specialty underwriting platform elseco has entered into an agreement with global specialty insurer StarStone to acquire its managing general agent, Malakite Underwriting Partners Ltd., and the renewal rights to...
Lloyd’s Appoints Former U.S. Senator Sununu as Member of Council
Jan 30 2019 // Lloyd’s confirmed the appointment of former U.S. Senator John E. Sununu of New Hampshire as a new member of its Council for a three-year term, beginning Feb. 6, 2019. During his tenure in the Senate, Sununu served on...
Arlington/Roe Finalizes Acquisition of Wisconsin Surplus Lines Broker
Jan 28 2019 // Indianapolis-based managing general agent and wholesale insurance broker Arlington/Roe & Co. has completed the acquisition of Robert W. Schmidt & Company LLC, a special risk broker located in the Milwaukee suburb...
AmWINS Launches Social Engineering Crime Insurance Product
Jan 28 2019 // AmWINS Group, Inc., a global distributor of specialty insurance products and services, has launched a new product designed to protect insureds against social engineering losses while also providing education and risk...
Ryan Specialty Group Reaches Agreement to Acquire Boston Insurance Specialists
Jan 25 2019 // Ryan Specialty Group LLC has reached a definitive agreement to acquire the assets and operations of Boston Insurance Specialists Inc. (BIS), an independently owned wholesale insurance brokerage with offices in Mansfield...
Private Flood Insurers Not Yet Ready to Fill Massive U.S. Protection Gap
Jan 24 2019 // The flood insurance protection gap in the United States is massive, but the take-up rate of private flood insurance continues to be low. The relative inability of private insurers to penetrate the flood insurance market...
Travelers Grew Q4 Profit Despite California Wildfire, Hurricane Michael Losses
Jan 22 2019 // Travelers Cos. reported that despite catastrophe losses from the California wildfires and Hurricane Michael, it boosted its profit in the fourth quarter of 2018 thanks to growth in premiums and investment income. Net...
People
Jan 21 2019 // John Doyle, president and CEO of global insurance broker Marsh, announced the appointments of key leaders for regional, specialty and placement teams worldwide that will be effective upon closing of the acquisition by...
Texas Surplus Lines Industry Had a Record-Setting Year in 2018
Jan 21 2019 // The Surplus Lines Stamping Office of Texas (SLTX) reported that the state recorded $6.08 billion in excess and surplus insurance premium for 2018, representing an 11.4 percent growth over 2017. The numbers represent...
