Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
New York Med Mal Insurer is $43M Short
May 21 2009 // New York’s second-largest medical malpractice insurer is more than $43 million in the hole, according to new regulatory filings, but state regulators are legally forbidden from initiating the process to liquidate or...
Swiss Re Names Flunger to Head Specialty/Commercial Lines
May 21 2009 // The Swiss Re Group has announced the appointment, effective immediately, of Rudolf Flunger as Head of Insurance & Specialty, the company’s division responsible for commercial insurance, industrial insurance,...
AAMGA Meeting <em>LIVE</em>: Dealing With Ups and Downs; <em>IJ</em> Reports on Twitter, Facebook
May 18 2009 // Managing general agents have a positive attitude about the soft market and recession, figuring what went down must come up again, according to Curtis Anderson, incoming president of the Association of Managing General...
Report Analyzes Threat to U.S. Coastlines
May 18 2009 // Lloyd’s of London has issued a summary of a report – “Resilient Coasts: a Blueprint for Action” – originally prepared by the Heinz Center and Ceres, which analyzes the threat to U.S....
Montpelier Re Launches Lloyd’s Marine Unit
May 15 2009 // Bermuda-based Montpelier Re Holdings Ltd. announced that Montpelier Syndicate 5151 will begin underwriting marine insurance business in August 2009. “The new marine account will consist of hull, cargo and specie...
Wittwer Named President of American Specialty Insurance & Risk Svcs.
May 13 2009 // American Specialty Insurance & Risk Services Inc., a wholly-owned subsidiary of Brown & Brown Inc., has named Tony L. Wittwer president of the Roanoke, Indiana-based sports, motorsports and recreation specialty...
U.K.’s Marketform Group Launches Five New Classes of Business
May 12 2009 // The London-based Marketform Group Limited, a leading market for non-US medical malpractice and other specialty lines, has announced that it is now underwriting five new classes of business. Chairman Holly Bellingham...
Specialty Underwriters’ Alliance Reports 20% Premium Growth for Q1
May 11 2009 // Chicago-based Specialty Underwriters’ Alliance Inc. reported that although net income was down in the first quarter of 2009 compared to the same period a year ago, gross written premiums rose to $29 million compared...
Best Rates Lloyd’s Syndicates 382 (Hardy) and 1225 (AEGIS)
May 8 2009 // Syndicate 382 – Hardy Underwriting 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,...
Named Storm Deductible Bill Passes Louisiana House
May 7 2009 // Two bills of interest to the insurance industry are making their way through the Louisiana legislative session, which convened April 27. House Bill 333, by Rep. Kleckley, which places limitations on named-storm, hurricane,...
Lloyd’s Experts Analyze Solutions to Thwart Somali Pirates
May 6 2009 // “Piracy in the Gulf of Aden and off the coast of Eastern-Africa is increasing. By the end of April there had been 79 attempted and completed hijacks by Somali pirates this year,” notes an article on the...
Best Removes Torus Specialty (Praetorian) Ratings from Under Review
May 6 2009 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and the issuer credit rating (ICR) of “a-” of Torus Specialty Insurance Company, formerly known as Praetorian...
Max Capital Group’s Q1 Net up 82% to $44.5 Million
May 6 2009 // The Bermuda-based Max Capital Group reported net income for the three months ended March 31, 2009 of $44.5 million, or $0.78 per diluted share, compared to net income of $7.7 million, or $0.13 per diluted share, for the...
Declarations
May 4 2009 // Twittering Mississippi “With a diverse group of staff members with different skills and knowledge of various technologies, Twitter was mentioned as one of the most efficient ways to connect with people, and...
Florida Lawmakers Pass Surplus Lines Insurance Regulation Exemption
May 4 2009 // Florida Gov. Charlie Crist has a bill on his desk that promises to clarify the state’s regulation of the surplus lines insurance business. The Florida Senate on May 1 joined in the House in passing the measure...
Lloyd’s to Buy Back $151.7 Million of Debt Securities
May 1 2009 // Lloyd’s announced that it will repurchase the local currency equivalent of £102 million ($151.67 million) of its outstanding debt securities, following its invitation to holders to submit offers to sell their...
Specialty Risk Associates Adds Campbell in Baton Rouge Office
Apr 29 2009 // Jeanne Campbell has joined Shreveport, La.-based Specialty Risk Associates Inc. in the company’s Baton Rouge office as an assistant underwriter. Campbell has more than 13 years’ experience in the retail and...
Lloyd’s Report Links Climate Change to National Security Threats
Apr 29 2009 // While the economic crisis and the growing swine flu menace have become the biggest immediate concerns for countries around the world, climate change remains the greatest long term threat. Its impact will continue to be...
Best Affirms QBE Re (U.S.) ‘A’ Ratings
Apr 29 2009 // A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings of “a” of the New York-based QBE Re Group (U.S.) and its members. The rating actions apply to...
Western Security Surplus Promotes Clark to Broker
Apr 28 2009 // Jason Clark has been promoted to broker in the Dallas, Texas, office of Western Security Surplus Insurance Brokers Inc. (WSS). Clark began his insurance career as a summer intern at WSS in 2007. After graduating from the...
