Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Max Capital Appoints Hatto, Sprowson as Lloyd’s Underwriters
Apr 27 2009 // The Bermuda-based Max Capital Group announced the appointment of two senior underwriters – Clive Hatto and Hugh Sprowson – by Max at Lloyd’s Ltd, the Lloyd’s managing agent for Syndicates 1400, 2525...
Louisiana Legislative Session Begins; More than 1,100 Bills Pre-filed
Apr 27 2009 // David Tatman of the Tatman Group and lobbyist for the Louisiana Surplus Lines Association, has outlined some of the legislation that group will be following during Louisiana’s legislative session, which opens...
Florida Bills to Clarify Regulation of Surplus Lines Insurance Advance
Apr 22 2009 // Florida’s surplus lines insurance brokers and carriers are encouraged that legislation to clarify the surplus lines industry’s regulatory status in the state has survived several committee hurdles and appears...
Lloyd’s Offers to Buy Back Debt at Discount
Apr 22 2009 // Citing a strong capital position and current market conditions, Lloyd’s of London has offered to buy back up to 100 million pounds ($145 million) worth of bonds at a discount. The offer applies to fixed/floating rate...
Specialty Underwriters, Hallmark Financial Still at Odds Over Control
Apr 22 2009 // Specialty Underwriters’ Alliance Inc. (SUA), headquartered in Chicago, reported that it has distributed a letter to stockholders in response to the proxy contest being waged by Hallmark Financial Services Inc., which...
Lloyd’s Opens First Office in Brazil
Apr 17 2009 // Lloyd’s opened its office in Brazil on Thursday, April 16, a year after receiving approval from the Superintendence of Private Insurance (SUSEP) to become the first admitted reinsurer in the country. Lloyd’s...
Lloyd’s Finds Insurance Increasingly Important for Rock ‘n’ Roll Band Tours
Apr 15 2009 // An article on the Lloyd’s web site (www.lloyds.com) analyzes the stepped up need for insurance coverage when mega-rock bands like U2 go on tour. The Irish band is slated to begin its latest series of concert dates,...
LIU, Five Star Specialty Launch Nonprofit Management Liability Program
Apr 9 2009 // Liberty International Underwriters (LIU), a division of Liberty Mutual Group, has partnered with Five Star Specialty Programs (Five Star), a division of Crump Insurance Services Inc., to create a new insurance program for...
P/C Insurers Profitable in 2008; Take Hit From Catastrophes, Financial Crisis
Apr 9 2009 // Property/casualty insurers remained profitable in 2008 despite taking hits from several catastrophes, the recession and the ongoing financial crisis. P/C insurers earned $2.4 billion in net income after taxes in 2008, but...
Roach Howard Smith & Barton Launches New Specialty Practice Group
Apr 7 2009 // Dallas-based Roach Howard Smith & Barton (RHSB), an independent insurance brokerage firm and Assurex Global partner, expanded its firm to include a new Technology, Life Science & Media (TLM) specialty practice...
People
Apr 6 2009 // The Professional Insurance Agents of Connecticut Inc. (PIACT) elected new officers. They are: President James Goodman, who is president of Goodman Insurance Inc. in Shelton; President-elect Howard Olderman, who is...
Witch Hunt at AIG; While Lloyd’s Sees ‘Flight to Quality’
Apr 6 2009 // The witch hunt that has engulfed AIG needs to be toned down. If for no other reason than it’s making the problem worse, not better. It also reduces the likelihood that U.S. taxpayers will get back any of the money...
Pennsylvania Surplus Lines Association Annual Meeting
Apr 2 2009 // All members of the insurance community are invited to attend the Pennsylvania Surplus Lines Association’s Annual Membership Meeting, on April 8-9, 2009, at the Wyndham Gettysburg Hotel in Gettysburg, PA. Highlights...
Bolt to Join Lloyd’s as New Underwriting Performance Director
Mar 27 2009 // Lloyd’s announced that Tom Bolt has been appointed as the new Underwriting Performance Director, effective early this fall. He will take over from Rolf Tolle who will retire at the end of the year. Bolt has more than...
S&P Sees no Lloyd’s Rating Change; “Solid Performance,’ Strong Capital
Mar 25 2009 // Standard & Poor’s Ratings Services announced that its insurer financial strength rating and outlook on Lloyd’s (Lloyd’s or the Market; A+/Stable/–) “are unaffected by full-year results...
Lloyd’s Finance Director Sees ‘Flight to Quality’
Mar 25 2009 // Luke Savage, Lloyd’s of London’s finance director (among other titles), is certainly aware that 2008 was a “tough year,” as he put it in a telephone interview. Lloyd’s profits dropped by 50...
Lloyd’s Posts $2.78 Billion 2008 Profit
Mar 24 2009 // Lloyd’s announced an overall profit for 2008 of £1.899 billion ($2.78 billion), a 50 percent drop from the £3.846 billion ($5.64 billion) it posted in 2007, but given current economic conditions, a...
Sports Terrorism, ‘Names,’ Tongues and Mergers
Mar 23 2009 // Are professional sports the next terrorist targets? The terrorist attack on Sri Lanka’s cricket team in Lahore (Pakistan) “highlights the vulnerability of sporting events to terrorist disruption,” warned...
Torus Names Trimble as Head of Domestic Excess Casualty Division
Mar 20 2009 // International insurer Torus Insurance Ltd has appointed Linc Trimble as New Jersey-based head of the company’s excess casualty division. Trimble will oversee a country-wide growth strategy for Torus, and build a...
NIP Specialty Launches New Facility for Businesses in Bankruptcy
Mar 19 2009 // NIP Specialty Brokerage, a division of New Jersey-based NIP Group, Inc., launched a new facility to help agents/brokers replace business insurance policies cancelled or non-renewed because their clients have filed for...
