Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Argo Group Net Income Rose by 87% in 2009 to $117.5 Million
Feb 22 2010 // The Bermuda-based Argo Group International Holdings, Ltd. (the successor company of the Argonaut Group) announced a record result for 2009 with net income rising by 87 percent to $117.5 million, or $3.81 per diluted share...
People
Feb 21 2010 // The Independent Insurance Agents of Texas (IIAT) on Feb. 2 presented its 2010 Independent Leadership Award to Joe Straus III, speaker of the Texas House of Representatives. The Independent Leadership Award was presented...
A Recurrence of Recalls; ‘PIGS’ in a Poke; Lloyd’s Powers on; Haiti Now Faces Floods and Hurricanes
Feb 21 2010 // First Toyota, then Honda – who’s next? 2010 is not starting out as a good year for car companies. Japan’s Toyota Motor Corp. was already in the process of recalling approximately 8 million vehicles, due...
Big Ships Have Big Risks
Feb 21 2010 // Grounding Claims, Fire, Engine Damage and Piracy All Concerns for Cruise Liners Cruise ships have been in the news a lot recently, but sometimes for the wrong reasons. Stories of passengers stricken with norovirus, or...
Ironshore Makes Two Executive Appointments
Feb 19 2010 // Specialty insurer Ironshore Inc. has appointed Jordan Gantz as senior vice president and chief underwriting officer of the U.S. Specialty Casualty unit. Gantz currently serves as senior vice president at Ironshore Risk...
Best Affirms Lloyd’s Syndicate 382 Ratings & Hardy Underwriting
Feb 16 2010 // A.M. Best Co. has affirmed the Best’s Syndicate Rating of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 382, which is managed by Hardy Underwriting...
Lloyd’s Analyzes Lurking Danger of Active Volcanoes
Feb 12 2010 // An article on the Lloyd’s web site (www.lloyds.com) points out that there are “around 1,500 active volcanoes in the world and, although deadly eruptions are rare, they can cause devastation to people and...
PartnerRe Changes Organizational Structure after PARIS RE Acquisition
Feb 12 2010 // Bermuda-based PartnerRe Ltd. Has announced organizational changes, following the acquisition of PARIS RE. The Company said it would “maintain its existing business unit-based operating structure, consisting of three...
Lloyd’s Releases 3-Year Strategy for 2010-12
Feb 8 2010 // Lloyd’s has released its 2010–2012 Strategy after a detailed review. The bulletin noted that it had consulted “over 50 managing agents, brokers and market associations” in assessing the...
Lloyd’s Ordered to Pay Alleged Swindler Stanford’s Defense Costs
Feb 7 2010 // A U.S. federal judge ordered insurer Lloyd’s of London to pay for alleged swindler Allen Stanford’s defense. Stanford and three other defendants sued the insurer after Lloyd’s stopped providing coverage...
Jubilee MGA Merges Lloyd’s Syndicates 1231 & 5820
Feb 5 2010 // Following Lloyd’s approval, specialist Lloyd’s insurer Jubilee Managing Agency Limited has merged its auto coverage Syndicate 1231 and its property and personal lines Syndicate 5820 for the 2010 year of...
Western Security Surplus Insurance Promotes 3 in Brokerage Unit
Feb 4 2010 // California-based Western Security Surplus Insurance Brokers (WSS) has announced changes in the personnel for the WSS Brokerage Division. In the Pasadena, Calif., office, Philip Tiomico, who has been with WSS since 2008,...
American Safety Adds 3 Underwriters
Feb 4 2010 // Atlanta-based specialty insurer American Safety Insurance (ASI) has hired several new underwriters at regional locations throughout the country. In its New Jersey office, Robert Williams joins ASI as a senior excess...
OneBeacon Selling Personal Lines Business to Tower Group
Feb 3 2010 // Massachusetts-based OneBeacon Insurance Group has agreed to sell its personal lines business to Tower Group Inc. in a deal that comprises two affiliate insurers and two reciprocal insurance exchanges in New York and New...
Surplus Lines Association of California Elects New Officers
Jan 29 2010 // The Surplus Lines Association of California elected new officers and directors at its annual meeting. The officers are: Chairman Les Ross of Crump Insurance Services Inc.; Vice Chairman Pat Hanley of Socius Insurance...
Liberty International Underwriters Restructures Specialty Casualty Unit
Jan 28 2010 // Liberty International Underwriters (LIU), a division of Liberty Mutual Group, restructured its U.S. Specialty Casualty unit. The following organizational changes are effective immediately: Carl Pursiano has been named...
Lloyd’s Ordered to Pay Alleged Swindler Stanford’s Defense Costs
Jan 27 2010 // A U.S. federal judge ordered insurer Lloyd’s of London Tuesday to pay for alleged swindler Allen Stanford’s defense. Stanford and three other defendants sued the insurer after Lloyd’s stopped providing...
Markel Selects Wilson to Direct International Development
Jan 25 2010 // Markel International has appointed Simon Wilson to the role of director, international development. He joins Markel International from Lloyd’s. For the last three years, he was Lloyd’s general representative in...
People
Jan 24 2010 // Todd Richardson has been promoted to regional vice president – State Auto Middle Markets Insurance (SAMMI) for the company’s Western region, which includes Utah, Colorado, Arizona, Oklahoma and Texas....
New York Sees Promise in Own London-Like Market
Jan 24 2010 // But Skeptics Question Timing for Revival of U.S. Insurance Exchange A recently announced plan by New York’s governor to boost his state’s financial services industry by recreating the New York Insurance...
