Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
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...
Sciemus Partners with HSCM Bermuda and Is Renamed Argon Underwriting
Sep 13 2017 // Sciemus, a specialty Lloyd’s MGA, is forming an investing partnership with HSCM Bermuda, a firm that invests in reinsurance and insurance-linked assets across all lines of business. The deal also calls for Sciemus to...
Cat Facility CCRIF to Pay 6 Caribbean Nations $29.6M for Hurricane Irma Damage
Sep 13 2017 // Cayman Islands-based CCRIF (formerly the Caribbean Catastrophe Risk Insurance Facility) will make payments totaling US$29.6 million to six Caribbean nations recovering from Hurricane Irma. CCRIF’s parametric tropical...
Colony Specialty Appoints York as North Region Casualty Manager
Sep 13 2017 // Colony Specialty, a member of Argo Group International Holdings Ltd., has appointed Mike York as regional manager of the North Region within its U.S. Casualty Division. York will report to Tim Williams, vice president of...
Louisiana’s LCTA Acquires Risk Management Resources, Creates Specialty Insurer
Sep 11 2017 // Baton Rouge, Louisiana-based workers’ compensation insurance provider, LCTA Workers’ Comp (LCTA), has acquired Risk Management Resources and created a new subsidiary, LCTA Specialty Insurance Co. Risk...
Future of State Auto Insurance Group’s E&S Business Under Review
Sep 8 2017 // Columbus, Ohio-based State Auto Insurance Group (State Auto) is reviewing options for its excess and surplus (E&S) lines business, including a possible sale, the company said in an announcement. State Auto has a market...
HDI Launches Cyber Coverage for Manufacturing Companies
Sep 8 2017 // International insurer HDI Global Insurance Company (HDI) has introduced a new cyber product, Cyber+ Smart, designed to support the manufacturing sector. Cyber+ Smart is designed for U.S. enterprises with annual revenues of...
Specialty Program Group Acquires Assets of Monarch E&S Insurance Services in California
Sep 7 2017 // Specialty Program Group LLC has acquired the assets of Burbank, Calif.-based wholesaler Monarch E&S Insurance Services. Monarch E&S is a full-service MGA and wholesale brokerage established in 1986. The firm...
