Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Insurtech Jumpstart Rolls out Parametric Earthquake Product for Californians
Oct 15 2018 // A firm that wants to make a name for itself as the first parametric insurtech in the U.S. for earthquakes has officially launched in California, over a year after its anticipated original launch date. Jumpstart Insurance...
Cincinnati Financial to Acquire London Specialty Underwriter from Munich Re
Oct 12 2018 // In a bid to diversify its earnings and expand its markets beyond the U.S., Cincinnati Financial Corp. has agreed to acquire MSP Underwriting Limited, a London-based global specialty underwriter and subsidiary of Munich...
London Market Insurers’ Profits Remain Under Pressure with Excess Capacity: Fitch
Oct 11 2018 // The profitability of London market and Lloyd’s insurers is expected to remain under pressure in 2018, despite the fact that rates improved slightly following the catastrophe losses in the second quarter of 2017,...
Lloyd’s Market Association Taps Ascot’s CEO Brooks as Chairman, Replacing Maidment
Oct 10 2018 // Andrew Brooks, chief executive officer of Ascot Underwriting Ltd., has been appointed the next chairman of the Lloyd’s Market Association (LMA), with effect from Jan. 1, 2019. Brooks, who has served on the LMA board...
In Event of Hard Brexit, Lloyd’s Commits to Pay All Valid Claims
Oct 10 2018 // Lloyd’s said it is working on transferring all European Economic Area (EEA) business to its EU headquarters, Lloyd’s Brussels, before the end of 2020 via a Part VII transfer. (Part VII transfers, in part,...
Ascot Opens U.S. Unit, Names Wolyniec CEO, Completes Greyhawk Acquisition
Oct 10 2018 // Bermuda specialty insurer Ascot Group has launched Ascot Insurance U.S. and appointed Greg Wolyniec as its president and chief executive officer. Ascot also announced the completion of the acquisition of Greyhawk Insurance...
Sompo International Taps Pillion to Lead New U.S. Environmental Insurance Unit
Oct 9 2018 // Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, has established a new business unit to extend environmental liability insurance capabilities to a...
Tower Hill Specialty Enters Illinois Property Insurance Market
Oct 5 2018 // Ohio-based Tower Hill Specialty is now offering property insurance in Illinois. Currently available in seven states, Tower Hill Specialty provides homeowners, dwelling fire, manufactured housing and condominium products....
Canada MGA Totten Insurance Buys Lloyd’s Coverholder Anderson McTague
Oct 3 2018 // Totten Insurance Group Inc., a Toronto-based managing general agency, announced it has acquired Anderson McTague & Associates Ltd. Terms of the transaction were not disclosed. Headquartered in Saint John, New...
Lloyd’s U.S. Chief Says They’re Ready to Get into Canadian Cannabis Market
Oct 2 2018 // Lloyd’s is set to get into Canada’s cannabis market when recreational marijuana becomes legal there on Oct. 17, according to Hank Watkins, president of Lloyd’s America Inc. Watkins was speaking today at...
Insurtech Jumpstart Rolls out Parametric Earthquake Product for Californians
Oct 2 2018 // A firm that wants to make a name for itself as the first parametric insurtech in the U.S. for earthquakes has officially launched in California, over a year after its anticipated original launch date. Jumpstart Insurance...
How New Business Is Creating a New Wholesaler-Retailer Relationship
Oct 2 2018 // An influx of new business is presenting surplus lines wholesalers and their retail partners with new opportunities to work together even as other forces are changing how they work together. The surplus lines insurance...
Everest Insurance Names Presidents of Risk Management Group, Specialty Underwriters
Sep 28 2018 // Everest Insurance announced that Mike Karmilowicz has been promoted to president of Everest Specialty Underwriters and Dave Sandler has been promoted to president of its Risk Management Group. Karmilowicz joined Everest...
Brown & Riding Names Scheider Environmental Specialty Broker in Colorado
Sep 26 2018 // Brown & Riding has added Harrison Scheider as an environmental specialty broker. Scheider works out of Brown & Riding’s Denver, Colo. office. He primarily handles accounts in Colorado, New Mexico, Wyoming,...
AXA XL Names Moniz & Scully to Lead Excess Casualty Teams in Bermuda, Dublin, Respectively
Sep 26 2018 // AXA XL announced two senior promotions within its Excess Casualty Insurance business. Effective immediately Vivienne Moniz and Elaine Scully have been appointed as head of Excess Casualty, Bermuda, and head of Excess...
Starr Insurance Cos. Launch Monoline GL Construction Wrap-Up Coverage
Sep 21 2018 // Starr Insurance Companies has introduced Starr CIP Enterprise, a monoline general liability construction wrap-up insurance policy. The new product is designed for property owners and contractors who need tailored primary...
AIG to Acquire Program Manager Glatfelter Insurance Group
Sep 21 2018 // American International Group has agreed to acquire Glatfelter Insurance Group, a prominent specialty insurance broker and program manager headquartered in York, Pennsylvania. The terms of the transaction were not...
Fidelis Takes Equity Stake, Provides Capacity, for Energy Market MGA, Kersey Specialty
Sep 21 2018 // Fidelis Insurance announced it has taken an equity stake in a new managing general agent, Kersey Specialty Ltd., and will be providing underwriting capacity. London-based Kersey will focus on the upstream energy...
Lloyd’s Returns to Pre-Tax Profits, Reporting £600M ($793.1M) During 1st Half
Sep 21 2018 // Lloyd’s reported a return to profits during the first half, in a welcome recovery after its big losses of 2017. Pre-tax profits during the half were £600 million ($793.1 million), compared to £1.2 billion ($1.6...
XL Catlin Names Snyder Lead Underwriter for Construction Excess Casualty in Southeast
Sep 21 2018 // XL Catlin’s North America Construction insurance business has appointed Ann Marie Snyder, senior underwriter, to lead its Construction Excess Casualty business in its Southeast region. Snyder joined XL Catlin in 2012...
