Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
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...
Independent Texas MGAs Join Forces for Targeted Harvey Relief
Oct 2 2017 // A group of independently owned Texas managing general agents (MGAs) have come together to provide targeted, direct, local relief to communities affected by Hurricane Harvey. Texas MGAs for Disaster Relief is working with...
Canada’s Intact Financial Completes OneBeacon Acquisition; Vows to Grow Specialty Insurer
Sep 29 2017 // Intact Financial Corp. said it has completed its acquisition of U.S. specialty insurer OneBeacon Insurance Group from Bermuda-based White Mountains Insurance Group. The purchase price was C$2.3 billion (US$1.7...
A.M. Best Assigns A- Rating to Oklahoma’s Trisura Specialty Insurance
Sep 29 2017 // A.M. Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” to Trisura Specialty Insurance Co. (Trisura Specialty), based in Oklahoma City. The ratings...
Lloyd’s Expects $4.5 Billion Hit from Hurricanes Harvey, Irma
Sep 28 2017 // Lloyd’s of London expects net losses of $4.5 billion from hurricanes Harvey and Irma, which analysts said would eat into the insurer’s capital and hit its profitability. Although losses from natural...
Update: Lloyd’s of London Reports 16% Drop in H1 2017 Profit to $1.6B
Sep 28 2017 // Lloyd’s of London expects net losses of $4.5 billion from hurricanes Harvey and Irma, which analysts said would eat into the insurer’s capital and hit its profitability. Although losses from natural...
Ironshore’s New Iron-Excess MGA Is Based on Iron-Starr Excess Agency Model
Sep 26 2017 // Using a Bermuda joint venture between Ironshore and C.V. Starr & Co. as a model, Ironshore announced the launch of Iron-Excess on Monday. Ironshore, a Liberty Mutual company, describes Iron-Excess as an expansion of...
Pioneer Underwriters & Lloyd’s MGA Asta Get Initial Nod to Set Up Lloyd’s Syndicate
Sep 26 2017 // Pioneer Underwriters and Asta, the third party managing agent at Lloyd’s, announced they have received “in principle” approval from Lloyd’s to establish a syndicate. Pioneer commenced underwriting...
Lloyd’s Appoints SCOR’s Mitchell-Wallace as Head of Risk Aggregation
Sep 26 2017 // Lloyd’s, the specialist insurance and reinsurance market, announced Dr. Kirsten Mitchell-Wallace has been appointed as the head of Risk Aggregation. The role reports to Jon Hancock, the director of Performance...
A.M. Best Upgrades Prime Insurance Company with an A Rating
Sep 26 2017 // Specialty Excess and Surplus Lines Carrier’s Financial Stability Affirmed Chicago, Illinois, Salt Lake City, Utah and Naples, Florida, September 26, 2017- Prime Insurance Company announced today that A.M. Best Co....
Lloyd’s Broker AFL Creates Energy Practice Led by Quick & Pearce from Tysers
Sep 25 2017 // AFL Insurance Brokers Ltd. (AFL) has created an energy practice headed by London market broking professionals Dominic Quick and Simon Pearce. AFL’s energy practice will serve both AFL’s clients and customers...
MGA Agora Receives ‘in Principle’ Approval to Set Up Lloyd’s Syndicate
Sep 22 2017 // Asta, a third-party managing agent at Lloyd’s, announced it has received “in principle” approval from the Lloyd’s Franchise Board to establish and manage Agora Syndicate 3268. In 2015, Asta and...
Texans Helping Texans: Independent MGAs Join Forces for Targeted Harvey Relief
Sep 21 2017 // A group of independently owned Texas managing general agents (MGAs) have come together to provide targeted, direct, local relief to communities affected by Hurricane Harvey. Texas MGAs for Disaster Relief is working with...
Liberty Specialty Markets Appoints Hobbs, Winkel, Short & Smith to Senior Roles
Sep 21 2017 // London-based Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance, has announced the appointment of four senior roles (subject to regulatory approval). Phil Hobbs has been named deputy managing director. Hobbs...
People
Sep 18 2017 // Detroit, Mich.-based H.W. Kaufman Financial Group named Daniel J. Kaufman senior vice president of corporate growth. Kaufman will continue to serve as managing director and lead the Chicago, Milwaukee, Pittsburgh and...
Brokers Keep Trucking Market Motoring Despite Insurer Exits
Sep 18 2017 // Trucking serves as a barometer of the U.S. economy, representing 70.6 percent of all domestic freight transportation tonnage and $676 billion, or 79.8 percent,of transportation revenues in the country. Despite the...
Allianz Specialty Goes Live with ‘Insurtech’ for Small Business Brokers, Policyholders
Sep 14 2017 // Borrowing ideas from some insurtech startups, Allianz Global Corporate & Specialty has a new platform for brokers and their Main Street customers “from barber shops to bakeries and toy stores to...
Specialty MGAs Continue to be Popular Acquisition Targets
Sep 14 2017 // With growth prospects becoming rarer in the continuing competitive insurance market, carriers are among three sets of buyers fueling a hot M&A environment for specialized managing general agencies, representatives of...
