Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Major Cyber Attack Could Cost Global Economy $53 Billion: Lloyd’s
Jul 17 2017 // A major, global cyber attack could trigger an average of $53 billion of economic losses, a figure on par with a catastrophic natural disaster such as U.S. Superstorm Sandy in 2012, Lloyd’s of London said in a report...
AXIS Capital to Launch Lloyd’s Managing Agency
Jul 14 2017 // Bermuda-based AXIS Capital Holdings Ltd. announced it will launch a Lloyd’s managing agent after receiving authorization from Lloyd’s, the UK Prudential Regulation Authority (PRA) and the Financial Conduct...
Chubb Names New Leadership in Casualty Major Accounts for North America
Jul 14 2017 // Chubb today has made new leadership appointments within its Global Casualty and Excess Casualty lines of business for its North America Major Accounts division, which serves large U.S.- and Canadian-based companies...
Tokio Millennium Re Names Ex-Lloyd’s Exec, Secrett, as Chief Underwriting Officer
Jul 14 2017 // Zurich-based Tokio Millennium Re AG (TMR) has appointed Brian Secrett as chief underwriting officer (CUO) and member of the executive committee, with effect from Oct. 1, 2017 and subject to regulatory approvals. As the new...
Texas E&S Broker McClelland & Hine Promotes Barnes and Hine
Jul 13 2017 // San Antonio-based managing general agent and excess and surplus (E&S) lines broker, McClelland and Hine Inc. (MHI), has promoted Lisa Barnes to the position of chief operating officer, and named Amicia Hine president...
CFC Partners With CyberScout on Specialty Lines Identity Protection Services
Jul 12 2017 // CFC Underwriting has partnered with CyberScout, an identity management and data theft service company, to offer cyber support services to its customers internationally. CyberScout provides CFC customers with help in three...
RSG Forms LatAm-Focused MGU, Capital Bay Underwriting; Ex-AIG Execs Lead Unit
Jul 11 2017 // Ryan Specialty Group (RSG) announced the formation of its first Latin American-focused managing general underwriter (MGU), hiring two former executives from American International Group to lead the unit. Pascal Alvarez has...
State of P/C Insurance Industry, Part 1: The Fate of ‘Hard Market’ Agencies (and Companies)
Jul 10 2017 // Property/casualty (P/C) insurance and group benefits industry is changing faster than ever. Many factors are the parents of such change. In part one of this two part series, I will focus on the more traditional aspects and...
California Surplus Lines Don’t Want to be Left Out of State’s Marijuana Regs
Jul 10 2017 // California’s surplus lines industry is trying to clear up the haze over a proposed regulation that would require medical marijuana businesses to purchase insurance only from admitted carriers. The regulation is one...
People
Jul 10 2017 // San Francisco, Calif.-based Metromile has named Carrie Dolan chief financial officer. Dolan most recently served as CFO of Lending Club, an online credit marketplace connecting borrowers and investors. Prior to Lending...
LaRock joins RT Specialty in Nashville
Jul 7 2017 // R-T Specialty, LLC (RT) has announced that Jackie LaRock has joined the company as an executive vice president and part of the RT ProExec practice group. LaRock has experience and expertise in professional and executive...
AXIS Capital to Acquire Lloyd’s Specialty Re/Insurer Novae for $604 Million
Jul 6 2017 // AXIS Capital Holdings Ltd. announced it is acquiring Novae Group plc, a specialty re/insurer that operates through Lloyd’s of London. “The US$604 million transaction adds scale and breadth to the international...
Flood Insurance in the Standard Market Part 2
Jul 5 2017 // Last week, we started a conversation about flood coverage. If you missed last week’s blog, go back and read it now. We’ll wait for you. To sum up last week’s blog, I believe that the standard market could...
The Hanover’s Chaucer Acquires SLE Holdings, Sydney-Based MGA
Jul 5 2017 // The Hanover Insurance Group Inc. announced that Chaucer, the company’s international specialty insurance group, has acquired SLE Holdings, a market-leading Lloyd’s managing general underwriting agency based in...
Lloyd’s Names Childs, Hiscox’s Non-Exec Chairman, as Deputy Chairman
Jul 5 2017 // Lloyd’s announced that Robert Childs, non-executive chairman of Hiscox, has been appointed deputy chairman of Lloyd’s. He takes up the position immediately. Childs takes over from Paul Jardine, who retired from...
Ironshore M&A Unit Updates Transactional Liability Product for Healthcare Risks
Jun 30 2017 // Ironshore’s Mergers & Acquisitions and Tax unit has updated its transactional liability product to address regulatory risks in the healthcare sector. Ironshore now offers a single limit and single retention...
Texas Stamping Office: Surplus Lines Cyber Growth Keeps Up with Demand
Jun 29 2017 // In Texas and across the nation, the surplus lines insurance market is keeping up with the increase in demand for cyber liability protection, according to the Surplus Lines Stamping Office of Texas (SLTX). Surplus lines...
Nance Named EVP, E&S Property Business, at AXIS Insurance
Jun 28 2017 // AXIS Insurance, a business segment of AXIS Capital Holdings Limited, has appointed Marc Nance executive vice president, Excess & Surplus Property. He is based in Chicago. Nance is responsible for growing and managing...
Businesses Underestimate Long-Term Effects of Cyber Attacks: Lloyd’s Report
Jun 28 2017 // Businesses could face a much higher bill than they expect or are prepared for after falling victim to a cyber-attack, according to research from Lloyd’s in association with KPMG and legal firm DAC Beachcroft. As...
CNA Hardy Names Neon’s Marriott as Head of Cargo, Lloyd’s
Jun 27 2017 // CNA Hardy, a specialist commercial insurance provider for clients within the Lloyd’s and company markets, announced the appointment of Alistair Marriott as head of Cargo for its Lloyd’s platform. Reporting to...
