Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Florida Gov. Scott Signs Property Insurance Cost Control Bill
May 17 2011 // Florida Gov. Rick Scott has signed into law legislation that promises to lower costs for the state’s property insurers, including what they pay on sinkhole claims. While the memory of former Governor Charles...
Calif. Surplus Line Premiums Down 4.34%
May 17 2011 // The Surplus Line Association of California Stamping Office announced premiums processed for the first quarter of 2011 of $953.7 million, a decrease of 4.34 percent from the total premiums processed in the same period in...
Arrowhead Announces Acquisition of Specialty Agency Trafalgar Marine Insurance Services
May 17 2011 // San Diego, CA, 05/17/11 – ARROWHEAD General Insurance Agency, Inc., one of the nation’s largest property and casualty insurance program managers, is pleased to announce the acquisition of the specialty insurance...
Demotech Company Classification Criteria
May 16 2011 // Super Regional Active companies, not in regulatory supervision at Dec. 31, 2010 Individual companies Companies reporting data to the National Association of Insurance Commissioners using the property/casualty annual and...
Eye on the Local Managing General Agency
May 16 2011 // The American Association of Managing General Agents Opens the Door for Smaller Members Sometimes bigger is not always better. Large wholesale organizations have a place in the market, but smaller and often family-owned...
Lloyd’s Estimates Losses from Q1 Disasters at $3.8 Billion
May 13 2011 // After careful calculation Lloyd’s has announced its estimated net claims before tax from the earthquakes this year in Japan and New Zealand and the January 2011 floods in Australia. The current net estimates were...
Texas Continues Crack Down on Late Surplus Line Filings
May 4 2011 // Among the enforcement actions for March 2011 announced by the Texas Department of Insurance are a number of fines imposed on surplus lines wholesalers for failing to report surplus line premium in a timely...
Pending State Legislation to Implement NRRA Is Fly in the Ointment
May 2 2011 // Pending state legislative proposals, such as California’s AB 315, that would implement the Nonadmitted and Reinsurance Reform Act of 2010 (NRRA) are akin to the fly in the ointment. The NRRA becomes effective on July...
Top 10 U.S. Excess/Surplus Insurers
May 2 2011 // The top 10 U.S. excess and surplus lines carriers of 2010 based on direct premiums written for the 12 months ended Dec. 31, 2010, according to SNL Financial include: American International Group Zurich Financial Services...
Lloyd’s Market Association Questions Aspects of FSA Regulatory Reform
Apr 29 2011 // In a response to the proposals to restructure the UK’s financial regulations the Lloyd’s Market Association (LMA) has taken issue with some of the proposals, which, in its view are “over-engineered”...
Lloyd’s on Coverage for Royal Wedding Celebratory ‘Street Parties’
Apr 29 2011 // The Royal Wedding today at Westminster Abbey has virtually taken over the UK, as millions of residents plan local celebrations in honor of the Prince William and Kate Middleton’s marriage. According to , “it is...
Cooke to Head Lloyd’s Marketform Marine Cargo Underwriting
Apr 28 2011 // London-based specialist Lloyd’s insurer Marketform announced that experienced London Market underwriter Gary Cooke will join the company effective June first, as head of Marine Cargo Underwriting. “After two...
Best Comments on Chaucer and Lloyd’s Syndicate 1084 Ratings
Apr 22 2011 // A.M. Best Europe – Rating Services Limited has commented that the financial strength rating of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 1084 the ICR of...
Top 10 U.S. Excess/Surplus Insurers
Apr 22 2011 // Top 10 U.S. Excess, Surplus Insurers of 2010 by Market Share According to SNL Financial: American International Group Zurich Financial Services Ltd. Nationwide Mutual Group ACE Ltd. W.R. Berkley Corp. Markel Corp. CNA...
New York Increases Requirements for Excess Line Insurers
Apr 21 2011 // A new regulation that goes into effect in New York this month will force excess line insurers to triple their minimum policyholders surplus to $45 million by the middle of 2013. For eligible excess line insurers already in...
The Hanover to Pay $510M for UK Insurer Chaucer
Apr 20 2011 // A half-billion dollar deal that would make Lloyd’s insurer Chaucer part of Massachusetts-based The Hanover appears all but done. Terms of the transaction, announced this morning, involve a cash-for-stock swap valued...
How P/C Insurance Industry Fared Financially in 2010
Apr 20 2011 // U.S. property/casualty insurers’ net income after taxes rose to $34.7 billion in 2010 from $28.7 billion the year before, with insurers’ rate of return on average policyholders’ surplus increasing to 6.5...
Lloyd’s Insurer Chaucer Endorses The Hanover’s Takeover Bid
Apr 20 2011 // Lloyd’s insurer Chaucer plc has issued a statement endorsing the terms of a recommended cash acquisition of the entire issued and to be issued ordinary share capital of Chaucer by 440 Tessera Limited (BidCo), a...
Lloyd’s Insurer Sportscover Expands; Blunt to Underwrite Bloodstock
Apr 19 2011 // Lloyd’s insurer Sportscover has taken another step in its plans for expansion with the announcement that it has appointed a “highly respected Bloodstock underwriter, Robin Blunt.” He has been in the...
Lloyd’s Chairman Levene to Retire; Nelson Named to Replace Him
Apr 18 2011 // The Council of Lloyd’s has announced that John Nelson is to be appointed as the next Chairman. He will take up the position in October of this year, succeeding current Chairman Lord Peter Levene, who has served in...
