Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Execs Hired by Berkshire Specialty Balked at AIG Philosophy: Benmosche
Sep 24 2014 // Robert Benmosche, who led American International Group Inc. for half a decade, said an emerging challenge from Warren Buffett’s Berkshire Hathaway Inc. hasn’t amounted to much so far. Buffett’s firm...
Berkshire Hathaway Specialty Enters Fidelity & Crime Market; Names AIG’s O’Neill
Sep 23 2014 // Berkshire Hathaway Specialty Insurance (BHSI) said it is entering the fidelity and crime insurance market, and has named Brian O’Neill to lead the effort. O’Neill joins BHSI with 30 years of fidelity and crime...
Surplus Lines Rate Hikes to Slow As Competition Grows
Sep 23 2014 // Two insurance rating entities see slowing rate increases for the surplus lines segment in the coming months as competition grows. Moody’s Investors Service said that the U.S. excess and surplus lines sector is...
3 from Lockton Join Expanding JLT Specialty’s Cyber Team in U.S.
Sep 22 2014 // JLT Specialty Insurance Services Inc., the U.S. subsidiary of specialty insurance and reinsurance broker Jardine Lloyd Thompson Group plc (JLT), has named several cyber risk specialists to its cyber risk team in the...
The Problem with Domestic Excess and Surplus Lines Insurers
Sep 22 2014 // It has been more than five years since states, beginning with Illinois, began to enact laws permitting the formation and licensing of domestic excess and surplus lines insurers. To date, these initiatives have gotten very...
Swiss Re Eyes Specialty Lines to Counter Reinsurance Slump
Sep 18 2014 // Swiss Re Ltd., the world’s No. 2 reinsurer, is cutting back on catastrophe coverage and moving into new lines of business as low interest rates and fewer natural disasters undercut prices. “The super profits...
The Problem with Domestic Excess & Surplus Lines Insurers
Sep 16 2014 // It has been more than five years since states, beginning with Illinois, began to enact laws permitting the formation and licensing of domestic excess and surplus lines insurers. To date, these initiatives have gotten very...
XL Launches Regional E&S Insurance Operation with Ex-Scottsdale Underwriters
Sep 15 2014 // XL Group has launched a regional underwriting operation in Scottsdale, Ariz. to offer brokers and clients in the Western U.S. more direct access to its excess and surplus insurance coverages The experienced underwriting...
‘Minimal’ Insurance Effect If Scotland Exits U.K., Says Lloyd’s of London Chair
Sep 15 2014 // Lloyd’s of London Chairman John Nelson said several years of uncertainty will follow if Scotland leaves the U.K. “The immediate effect would be a period of perhaps two years of uncertainty,” said Nelson,...
Brit Launches Cyber Product for Critical Infrastructure, Industrial Machinery
Sep 15 2014 // Brit PLC, a global specialty insurer and reinsurer, has developed an insurance service to protect companies operating critical infrastructure and industrial machinery from terrorist and other malicious attacks, such as...
UK to Issue First Renminbi Bond; Lloyd’s of London Gets OK for Beijing Branch
Sep 15 2014 // Britain will become first Western government to issue an offshore bond in China’s renminbi currency, finance minister George Osborne said on Friday, deepening efforts to build financial links with the world’s...
Wright Specialty Promotes Beer to President, Profit Center Leader in N.Y.
Sep 10 2014 // Wright Specialty Insurance in Uniondale, New York, has promoted Kevin C. Beer to president and profit center leader from senior vice president of underwriting. Wright Specialty is a managing general underwriter and program...
Japanese Specialty Reinsurer Canopius Expands U.S. Footprint
Sep 10 2014 // Canopius Group Limited, the global specialty (re)insurance platform of Sompo Japan Nipponkoa Holdings Inc., said it is expanding its U.S. presence with the launch of Canopius Underwriting Agency Inc. (CUAI). Based in New...
Liberty International Adds 8 Underwriters to U.S. Excess Casualty Unit
Sep 10 2014 // Global specialty insurer Liberty International Underwriters (LIU), part of Liberty Mutual Insurance Group, has added eight underwriters to its U.S. Excess Casualty Division. “Our new staff brings added skill and...
Anchor Insurance to Acquire Southeast Surplus Underwriters and Affiliates
Sep 8 2014 // Anchor Insurance Holdings is purchasing Beaumont, Texas-based Southeast Surplus Underwriters General Agency, Spindletop Premium Finance, and Ranchers and Farmers Insurance Co. from Mirage Interest Inc., the companies...
State of the Market: Surplus Lines Bounces Back
Sep 8 2014 // The surplus lines industry showed its subpar showing in 2012 was uncharacteristic as it outperformed the overall property/casualty industry once again in 2013. While 2013 was a good year all-round for the P/C industry, it...
Surplus Carriers Search for Growth Never Ends
Sep 8 2014 // In 2013, net income more than doubled from the $1.57 billion reported in 2012, according to the “2013 U.S. Surplus Lines Market Review” published by A.M. Best. Not resting on their laurels, surplus lines...
Coverholders Playing Greater Role in Lloyd’s Global Expansion
Sep 8 2014 // Lloyd’s of London began and remains a specialized market (not an insurance company). It accepts risks that are too large, or too complex, or both, that do not lend themselves to coverage through more “normal...
Near National P/C Carriers Identified for 2014
Sep 8 2014 // The original criteria and objective definition for the Near Nationals was established in the Feb. 12, 2007, issue of Insurance Journal. The Demotech Company Classification System categorizes insurers into one of 11...
Wildfire Spending In Oregon Triggers Lloyd’s Insurance Policy
Sep 5 2014 // Oregon’s tough wildfire season has pushed spending to the point the state Department of Forest is tapping its special insurance policy for the second year in a row. The Bulletin reported that state wildfire costs...
