Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Valiant Insurance Expands with Atlanta Office
Oct 1 2009 // New York-based Valiant Insurance Group, Inc. has opened a new office in Atlanta, expanding its specialty and casualty operations. Valiant has recruited a team of primary and excess casualty professionals from Markel Corp....
A.M. Best: Surplus Lines Results Dip in Response to Competition, Losses
Sep 28 2009 // In 2008, the underwriting and operating performance of surplus lines companies continued to outpace that of the total property/casualty industry, although at a diminished level from 2007 due to persistent soft market...
P/C Industry Net Income Falls Nearly 60% in First-Half 2009
Sep 28 2009 // Private U.S. property/casualty insurers’ net income after taxes fell 59.3 percent to $5.8 billion in first-half 2009 from $14.1 billion in first-half 2008. Insurers’ overall profitability as measured by their...
Lloyd’s First Half 2009 Pretax Profits up 29% to $2.18 Billion
Sep 24 2009 // Lloyd’s conservative management, combined with a notable lack of major natural catastrophes, has resulted in a £1.32 billion ($2.18 billion) pretax profit for the first half of 2009, compared to £949...
Jones’ Team Joins Flagstone Re’s Lloyd’s Syndicate
Sep 24 2009 // Bermuda-based Flagstone Reinsurance Holdings Limited announced that a team lead by Nick Jones has joined its Lloyd’s underwriting operation, Marlborough Underwriting Agency Ltd., to create a worldwide property...
Insurance Agent Jailed for Falsely Representing Lloyd’s in Kentucky
Sep 23 2009 // A financial service worker in South Carolina was sentenced today to two years in prison for using a scheme to dupe mortgage companies and homeowners in Eastern Kentucky. David C. Thomas, of Greenville, S.C. admitted he...
1909 New Graduates Start at Lloyd’s
Sep 22 2009 // Lloyd’s has welcomed its newest group of graduate students. The latest batch of successful applicants to work in at One Lime Street “will start an 18-month rotation that will see them working in three six-month...
Lloyd’s Opens First Nordic Office
Sep 21 2009 // Lloyd’s announced that it has opened its first representative office in Scandinavia in Sweden, which will act as the hub for all of its Nordic operations. The office, in Stockholm, will be run by Lloyd’s Nordic...
North Carolina Coastal Broker Ready to Ride Beach Plan Reform Wave
Sep 21 2009 // Hanover Excess Sees State Pool Changes A Boost For Business Still Recovering From Recession, Soft Market The Web site for Hanover Excess (www.hanoverxs.com) proclaims that the people at this North Carolina excess and...
People
Sep 21 2009 // Louisiana-based insurance wholesaler, Specialty Risk Associates Inc., announced several changes to its management team. Thomas Garland was named chief operating officer. Garland joined Specialty Risk in 2004 as vice...
House Passes Surplus Lines Reform Legislation
Sep 21 2009 // The House of Representatives passed HR 2571, the Non-Admitted and Reinsurance Reform Act of 2009, on Sept. 9. The bill, authored by Reps. Dennis Moore, D-Kan., and Scott Garrett, R-N.J, will simplify the tax remittance and...
Lloyd’s Chairman: Limiting UK’s Financial Services is ‘Dangerous Talk’
Sep 18 2009 // Lloyd’s of London Chairman, Lord Peter Levene, strongly defended the important role financial services play in the UK’s economy in general and in the City of London in particular. Levene chastised policymakers,...
Lloyd’s Insurer Jubilee Launches New Brand Consolidation Plan
Sep 17 2009 // The specialist Lloyd’s insurer Jubilee Managing Agency Limited announced the launch of a new brand across its operations, which it said reflects “the company’s strategic plans to expand and grow its...
Lloyd’s Directors & Officers Insurance At Issue in Stanford Fraud Case
Sep 15 2009 // Lloyd’s of London said a federal judge should not allocate the proceeds of a directors and officers insurance policy for accused swindler Allen Stanford and other executives because they have no guarantee of...
California Court Rules for Surplus Lines Insurers on Taxes
Sep 11 2009 // A Los Angeles court has ruled that surplus lines insurers need not pay California’s 2.3 percent of gross premiums tax that admitted insurers pay, as well as the 3 percent surplus lines-premiums tax the state...
Kittleson, Hill Join Iron-Starr Excess Casualty Operation in Bermuda
Sep 10 2009 // Iron-Starr Excess Agency Limited, the joint venture between Ironshore Inc. and C. V. Starr & Co., Inc., report that Eric S. Kittleson and Mark Hill have joined the Excess Casualty operation domiciled in Bermuda....
New Facility for Excess Lawyers Professional Liability Now Available
Sep 9 2009 // Synergy Professional Associates, based in Kinelon, N.J., announced a new program that provides excess lawyers professional liability for small law firms. The facility can consider excess limits on standard lines written in...
House Passes Surplus Lines Reform Legislation
Sep 9 2009 // The House of Representatives passed HR 2571, the Non-Admitted and Reinsurance Reform Act of 2009 on Wednesday. The bill, authored by Reps. Dennis Moore, D-Kan., and Scott Garrett, R-N.J, will simplify the tax remittance...
People
Sep 7 2009 // Texas-based Specialty Insurance Managers Inc. appointed several new vice presidents. Karen Ashton was named vice president of the Arlington, Texas, branch. Bonnie Stalkfleet is now vice president of the Granbury branch....
Montana Surplus Lines Group Protests Stamping Office Takeover
Sep 7 2009 // The surplus lines industry is taking issue with the Montana insurance department’s takeover of the surplus lines industry’s stamping and fee collection functions. The stamping office had been run by the Montana...
