Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
People
Jul 7 2008 // Richmond, Va.-based insurance broker Hilb Rogal & Hobbs Co. promoted F. Michael Crowley to president and chief operating officer. As president, Crowley has been responsible for HRH’s retail operations. In the...
Monarch E&S Names Kaufman COO
Jul 3 2008 // Monarch E&S Insurance Services promoted Mark Kaufman to the position of chief operating officer. The company said the position is commensurate with the duties he has been taking on over the past year. He will be...
Unitrin Specialty & Red Shield Insurance Company Form Marketing Venture
Jul 3 2008 // July 3 2008 – Unitrin Specialty and Red Shield Insurance Company announced today that the two companies have formed a marketing relationship that will benefit both company’s appointed agents in Oregon and...
Crump Rebrands BISYS Specialty as Five Star Specialty Programs
Jul 2 2008 // BISYS Specialty Programs, a division of BISYS Commercial Insurance Services, has changed its name to Five Star Specialty Programs, a division of Crump Insurance Services, Inc. The change is part of the consolidation of its...
Chicago’s Specialty Underwriters Again Rejects Buyout Bid by Hallmark
Jul 2 2008 // Chicago-based Specialty Underwriters’ Alliance, Inc. (SUAI) today announced that it has responded to a letter, dated July 1, 2008, from Hallmark Financial Services, Inc. (“Hallmark”) in which Hallmark...
Stewart Joins American E&S Insurance Brokers San Francisco Office
Jul 2 2008 // American E&S Insurance Brokers’ San Francisco branch appointed Chip Stewart a broker. Stewart is an industry veteran with more than 20 years experience. Most recently, he was with Swett & Crawford, where he...
S&P Raises Markel’s Ratings to ‘BBB’ From ‘BBB-‘; Outlook Stable
Jul 2 2008 // Standard & Poor’s Ratings Services has raised its counterparty credit rating on Markel Corp. to ‘BBB’ from ‘BBB-‘ and affirmed a stable. S&P said: “The upgrade is based on...
Ironshore to Buy Lloyd’s Pembroke; Best Sees No Rating Change
Jul 1 2008 // Ironshore Inc. announced from Bermuda that it has signed a sale and purchase agreement with Chaucer Holdings PLC and the management of Pembroke for the £17 million ($34 million) cash purchase of Pembroke Managing...
Lloyd’s on ‘Rogue Traders’
Jul 1 2008 // It appears the “rogue” trading in the investment banking industry may not be an isolated problem. After Jerome Kerviel cost French bank Société Générale to book some $5 billion in losses, Morgan Stanley...
Hallmark Sends 2nd Take Over Letter to Chicago Specialty Underwriters
Jul 1 2008 // Fort Worth Texas-based Hallmark Financial Services, Inc. today reaffirmed its proposal to acquire all of the outstanding stock of Chicago-based Specialty Underwriters’ Alliance Inc. (SUAI). Hallmark submitted a...
P/C Insurers’ Underwriting, Investment Results Deteriorate in First Quarter
Jun 25 2008 // The U.S. property/casualty insurance industry’s net income after taxes fell to $8.2 billion in first-quarter 2008 from $16.2 billion in first-quarter 2007. Contributing to the $8 billion, or 49.3 percent, decline in...
Lloyd’s Notes Growth of Insurance Linked Securities Market
Jun 24 2008 // “Convergence between the capital and insurance markets is gaining pace and Lloyd’s insurers are at the forefront of developments,” notes an article on the Lloyd’s web site (www.lloyds.com). The...
Specialty Underwriters Reports Acquisition Offer from Hallmark
Jun 24 2008 // Specialty Underwriters’ Alliance, Inc. reports that it has received a letter from Hallmark Financial Services, Inc. containing an unsolicited, non-binding and conditional proposal to acquire the company. The proposal...
North Dakota Workers’ Comp Board Gives $77 Million Back to Businesses
Jun 24 2008 // North Dakota’s workers’ compensation board approved giving $77 million in dividends to most of its business customers over the next year, which could reduce their annual insurance bills by 62 percent. The...
Lloyd’s Launches Appeal to Find Relatives of War Heroes
Jun 18 2008 // Lloyd’s announced an appeal to find relatives of war heroes who worked at Lloyd’s and lost their lives during the two World Wars. In a bulletin on it web site (www.lloyds.com) Lloyd’s explained that the...
Why Regional Insurers Rate
Jun 16 2008 // Regional and Specialty Carriers Are Critically Important Carriers in the Marketplace This year, 2008 marks the second year that Demotech, Inc., as Insurance Journal‘s Official Research Partner, has published our...
Jun 16 2008 // People Dallas-based Colemont Insurance Brokers promoted Su Young to vice president in Colemont’s Texas office. Young joined Colemont in 2001 as part of the Texas financial services team and is located in Houston. She...
Why Regional Insurers Rate
Jun 16 2008 // Regional and Specialty Carriers Are Critically Important Carriers in the Marketplace This year, 2008 marks the second year that Demotech, Inc., as Insurance Journal‘s Official Research Partner, has published our...
People
Jun 16 2008 // Golden Eagle Insurance, a Liberty Mutual Agency Markets regional company, appointed Pete McPartland president and CEO. McPartland comes from General Casualty in Sun Prairie, Wis., where he led insurance operations for QBE...
Why Regional Insurers Rate
Jun 16 2008 // Regional and Specialty Carriers Are Critically Important Carriers in the Marketplace This year, 2008, marks the second year in a row that Demotech Inc., as Insurance Journal‘s official research partner, published our...