Latest Excess Surplus Headlines

2006:a big year for P&C buyers and sellers of all shapes and sizes

Dec 24 2006 // JANUARY Hallmark Acquires Fort Worth, Texas-based Hallmark Financial Services Inc. has completed its acquisition of Aerospace Holdings LLC, which markets general aviation insurance products. Hallmark underwrites...

Climate change, reinsurance and Lloyd’s

Dec 24 2006 // N1 36 Poizner poised to lead Insurers hope for friendlier climate 40 Electronically stored information Agents must heed new rules 10 Calif.’s uninsured motorists

Best Affirms Amlin’s Lloyd’s Syndicate 2001 ‘A’, ‘a+’ Ratings

Dec 22 2006 // A.M. Best Co. has affirmed its Syndicate Rating of “A” (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 2001, which is managed by Amlin Underwriting Limited (AUL). Best...

Chubb Expands Excess Flood Policy

Dec 20 2006 // The Chubb Group of Insurance Companies has begun to offer an admitted excess flood insurance product to homeowners policyholders who face either inland or coastal exposures in 15 jurisdictions, including California,...

Lloyd’s Insures Famous Santa’s Beard

Dec 20 2006 // Lloyd’s may have become a lot more focused on technology, underwriting discipline and the bottom line in recent years, but that doesn’t mean it’s been neglecting its tradition of writing innovative and...

Max Re to Establish US E&S Unit

Dec 15 2006 // Bermuda-based Max Re Capital Ltd. announced plans to establish a U.S.-based excess and surplus lines platform. The new entity will “will complement the company’s existing insurance and reinsurance operations...

Lloyd’s Stresses Commitment to Goals of Three-year Plan

Dec 15 2006 // In his introduction to the latest progress report on Lloyd’s three-year plan, CEO Richard Ward noted that the current version “builds on the 2006-2008 plan issued in January. It includes our vision and...

New Report from Benfield Sees Lloyd’s ‘Venturing Forward’

Dec 12 2006 // A report from international broker Benfield’s Industry Analysis and Research team entitled “Venturing Forward,” notes that Lloyd’s focus “has turned firmly forward” following the...

Colo. imposes new procedures for surplus lines

Dec 11 2006 // Colorado has implemented new procedure changes for surplus lines brokers. Beginning Jan. 1, 2007, surplus lines brokers in Colorado will need to report their monthly policy and endorsement transactions directly to the...

Private equity market bullish on E&S brokers

Dec 11 2006 // By mid-November more than $500 billion in private equity transactions had occurred in 2006, $100 billion in October 2006 alone, according to Andrew Rosen, a partner with private equity firm HM Capital Partners. Dallas,...

Specialty Programs

Dec 10 2006 // N12 8 Texas commissioner allows windstorm rate hike Although welcome, some think it’s not enough 10 Judge says water may be covered in New Orleans canal case Ambiguities in policies may open the door

Private equity market bullish on E&S brokers

Dec 10 2006 // By mid-November more than $500 billion in private equity transactions had occurred in 2006, $100 billion in October 2006 alone, according to Andrew Rosen, a partner with private equity firm HM Capital Partners. Dallas,...

Dec 10 2006 // People The Texas Surplus Lines Association Inc. announced the election of the following officers and directors: President Len Kaplan, executive vice president and CFO, Delta General Agency, Houston; Vice President Lana...

Colo. imposes new procedures for surplus lines

Dec 10 2006 // Colorado has implemented new procedure changes for surplus lines brokers. Beginning Jan. 1, 2007, surplus lines brokers in Colorado will need to report their monthly policy and endorsement transactions directly to the...

People

Dec 10 2006 // The Des Plaines, Ill.-based Property Casualty Insurers Association of America named Deirdre Manna, former acting director of the Illinois Division of Insurance, vice president of industry and regulatory affairs. Manna will...

Best Affirms Beazley’s Lloyd’s Syndicate 2623 & 623 Ratings

Dec 8 2006 // A.M. Best Co. has affirmed its Syndicate Ratings of “A” (Excellent) and the issuer credit ratings (ICR) of “a+” of Lloyd’s Syndicate 2623 and Lloyd’s Syndicate 623, managed by the...

La. Legislative Panel Adds $1.6B to Budget but Stalls on $827M

Dec 7 2006 // Louisiana’s budget has been boosted by $1.6 billion, money lawmakers can spend in a special session scheduled to start Dec. 8. But the Senate president blocked attempts to enrich financial forecasts by another $827...

Atlantic Specialty Lines of Florida Announces Asset Acquisition of Gary Markel Surplus Lines Brokerage

Dec 6 2006 // (Clearwater, FL and Richmond, VA) …Robert M. Bryant, President, and Martin H. Kanipe, Executive Vice President of Atlantic Specialty Lines of Florida, Inc. (ASL – FL) and Paula Ross, Executive Vice President, Gary...

Health Premium Hikes Tied to Costly Specialty Drugs

Dec 6 2006 // Expected health insurance premium increases of between 8 and 13 percent in Massachusetts are being driven more than ever by the costs of expensive specialty drugs, according to officials from some of the state’s...

Atlantic Specialty Lines of Fla. Acquires Gary Markel

Dec 5 2006 // Atlantic Specialty Lines of Florida, Inc. has acquired the assets of Gary Markel Surplus Lines Brokerage, Inc. ASL-FL is a member of the Atlantic Specialty Lines, Inc. group of companies with offices in Virginia, Illinois,...