Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Toa Re, Barbican Get ‘in Principle’ Approval from Lloyd’s to Form SPA
Oct 27 2017 // The Toa Reinsurance Co. and Barbican Insurance Group announced they have received “in principle” approval from the Lloyd’s Franchise Board to establish Toa Re Special Purpose Arrangement (SPA 6132) to be...
Ryan Specialty Group Acquiring Houston’s Oxford Insurance Services LLC
Oct 24 2017 // Chicago-based Ryan Specialty Group LLC has reached a definitive agreement to acquire Oxford Insurance Services LLC (Oxford), a wholesale insurance brokerage headquartered in Houston, Texas. Oxford will become part of R-T...
Mass. SJC Reverses Lower Court’s Decision in Legal Malpractice Suit
Oct 18 2017 // The Massachusetts Supreme Judicial Court has reversed a Superior Court decision in favor of a law firm in a legal malpractice suit. The plaintiff, Kiribati Seafood Company LLC, brought the legal malpractice claim against...
AXIS Capital Completes Purchase of Novae; Executive Team Announced
Oct 18 2017 // AXIS Capital Holdings Ltd. it has finalized its acquisition of Novae Group plc, which creates a $2 billion insurer in London and a top ten re/insurer at Lloyd’s, with 2016 global gross written premiums of $6...
Risk Cooperative Becomes Lloyd’s Coverholder for Cyber Insurance Facility
Oct 18 2017 // Risk Cooperative, a specialized insurance and risk advisory firm, has been approved as a Lloyd’s coverholder giving it the ability to provide up to $10 million in stand-alone cyber insurance coverage. Risk...
Gov. Brown Signs Bill that Could Energize Insurance Markets
Oct 16 2017 // Given the far-reaching nature of some of the bills that Gov. Jerry Brown signed into law in recent weeks, it’s no surprise that a relatively minor tweak to the insurance code didn’t muscle its way onto the...
Q3 Catastrophe Losses Will Bring Rate Hikes by London Market Insurers: Fitch
Oct 16 2017 // Catastrophe losses from the recent U.S. hurricanes and Mexican earthquakes will lead to price rises on London market insurers’ loss-affected lines and could also affect wider market pricing trends, according to Fitch...
Lloyd’s Broker AFL Creates Property Practice, Led by Crouch from Lockton
Oct 16 2017 // Lloyd’s broker AFL Insurance Brokers Ltd (AFL) announced the appointment of Neil Crouch to lead its new wholesale property practice. Previously head of broking at Lockton, Crouch will pioneer the company’s...
California Governor Jerry Brown Signs Surplus Lines Association Backed Bill
Oct 16 2017 // Assembly Bill 1641, legislation offered and lobbied by the Surplus Line Association of California that is designed to give the California Department of Insurance more flexibility in deciding which coverages to add to the...
Catastrophes and the Property Market
Oct 16 2017 // Powered by InsuranceJournal.tv The catastrophe exposed property and habitational markets could be in for some changes following this year’s active hurricane season. Joe Morrello, head of excess and surplus (E&S)...
Argo Names The Hartford’s Higley to Head U.S. Property, Inland Marine
Oct 13 2017 // Specialty insurer Argo Group International Holdings has appointed David Higley as head of U.S. property and inland marine. Higley will report to Ron Vindivich, president, E&S, Colony Specialty, and will lead the...
Lloyd’s Outlook Is Negative on Hurricane Losses; Ratings Affirmed: S&P
Oct 13 2017 // S&P Global Ratings has revised its outlook on the Society of Lloyd’s to negative from stable, while reaffirming the market’s ‘A+’ insurer financial strength and long-term counterparty credit...
Insurers, Reinsurers Tally Maria, Irma, Harvey and Other Disaster Losses
Oct 10 2017 // Losses from Hurricane Maria and other recent natural disasters, including hurricanes Irma and Harvey, the Mexico City earthquake and other events, have led global insurers and reinsurers to issue profi warnings.t Below are...
California Governor Jerry Brown Signs Surplus Lines Association Backed Bill
Oct 9 2017 // Assembly Bill 1641, legislation offered and lobbied by the Surplus Line Association of California that is designed to give the California Department of Insurance more flexibility in deciding which coverages to add to the...
Lloyd’s Signs Deal with Artificial Intelligence Specialist, Expert System
Oct 9 2017 // Lloyd’s of London wants to infuse artificial intelligence (AI) technology into the daily business it does with its customers. The world’s largest insurance market signed a global deal with Expert System that...
Specialty Program Group Acquires Assets of Capitol Special Risks of Georgia
Oct 6 2017 // Specialty Program Group LLC (SPG), a holding company for specialty brokerage, contract binding, and insurance underwriting facilities, has acquired the assets of Capitol Special Risks, Inc. (CSR). Terms of the acquisition...
R-T Specialty Opens Office in Louisville, Kentucky
Oct 4 2017 // R-T Specialty, LLC (a subsidiary of Ryan Specialty Group, LLC) has opened a new office in Louisville, Ky. This office is led by Brian Houghlin and Chris Beckmann. Houghlin has 30 years of experience in the management...
Growing List of Re/Insurers Make Decisions on Post-Brexit EU Headquarters
Oct 3 2017 // Everest Re Group Ltd. has said its Dublin-based unit has received approval from the Central Bank of Ireland to become a non-life insurer, joining a growing list of insurers setting up regulated EU operations in case...
UPDATE 2: Global Re/Insurers Estimate Price Tag of Q3 Hurricanes & Quakes
Oct 3 2017 // Losses from Hurricane Maria and other recent 2017 natural catastrophes, including Hurricanes Irma and Harvey, the Mexico City earthquakes and other events, have led global insurers and reinsurers to issue profit...
Hudson Taps Atlanta-Based Moreman to Establish Subcontractor Default Business
Oct 3 2017 // Hudson Insurance Group has added Wallace Moreman as senior vice president. In this new position, Moreman will establish a subcontractor default insurance (SDI) business for Hudson. Christopher Gallagher, president and CEO...
