Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Lloyd’s CEO Neal Hospitalized After Serious Bike Accident
Mar 29 2022 // Lloyd’s CEO John Neal was involved in a collision with a car while riding his bike on Saturday, March 26, Lloyd’s said in a statement. Neal sustained serious injuries and is undergoing treatment in hospital,...
Lloyd’s Expects ‘Major Claim’ From Russia-Ukraine War, Reports ‘Strong’ Profit in 2021
Mar 24 2022 // Lloyd’s, the world’s leading insurance and reinsurance marketplace, announced “a strong return to profitability” in its 2021 full year financial results, with an overall profit of £2.3 billion...
Oman Insurance Co. Receives Nod to Underwrite via Lloyd’s Syndicate-in-a-Box
Mar 17 2022 // Oman Insurance Co. (OIC) and Asta, the third-party managing agent at Lloyd’s, announced that OIC’s syndicate 2880 has received Lloyd’s approval to commence underwriting. Syndicate 2880 was launched under...
Lloyd’s Slaps Record Fine on Atrium Underwriters for Bullying, Harassment
Mar 16 2022 // Lloyd’s of London has fined syndicate member Atrium Underwriters over one million pounds ($1.31 million) for bullying and harassment, the largest fine it has imposed for misconduct, the commercial insurance market...
Russia, Belarus Represent Less Than 1% of Business Transacted by Lloyd’s
Mar 15 2022 // Russia and Belarus represent less than 1% of business transacted by Lloyd’s of London, the commercial insurance market said, adding that it would look to curtail Russian exposure in several of its specialist...
Top Ship Certifier Lloyd’s Register Withdraws Services to Russia
Mar 11 2022 // Lloyd’s Register, one of the world’s top ship certifiers, is stopping services to Russia after sanctions were imposed on Moscow for its invasion of Ukraine, the company said on Thursday. Classification...
Mosaic to Buy Sirius Int’l Lloyd’s Managing Agency; SiriusPoint to Be Mosaic Investor
Mar 10 2022 // Mosaic Insurance has entered into an agreement to purchase the Lloyd’s managing agency of SiriusPoint as part of a transaction in which the global re/insurer will become a strategic investor in Mosaic. Under the...
AIG to Move High Net Worth Homeowners to E&S
Mar 7 2022 // Peter Zaffino, CEO of American International Group (AIG), said the company’s ongoing analysis of the increased frequency and severity of natural catastrophes has led to a decision to move its high net worth...
U.S. P/C Industry Grew Surplus Despite Underwriting Loss in 2021
Mar 7 2022 // Insurance rating agency AM Best said it expects the U.S. property/casualty insurance industry to record an increase in surplus in 2021 thanks to investment income and capital gains improvements despite booking an...
Markets/Coverages: Take1 Features Film Producers Package; Pathpoint Now Serving Restaurants; Nexus Specialty Targets Management Liability
Mar 4 2022 // Take1 Introduces Coverage for Documentary, Industrial, Commercial, and Educational Film Producers Thanks to the growing number of broadcast, cable and streaming platforms, the market demand for recorded filmed content has...
UK to Ban Russian Companies From London Aviation Insurance Market
Mar 3 2022 // LONDON — Britain will ban Russian companies from the multi-billion dollar aviation and space insurance market in London, the world’s largest commercial and speciality insurance center, the finance ministry said on...
People Moves: Lloyd’s Names Gomez People Officer; McMillan Joins Brace Specialty From Canopius
Mar 2 2022 // Lloyd’s Names Gomez as Chief People Officer Lloyd’s of London has appointed Sara Gomez as chief people officer (CPO). As CPO, she will focus on developing Lloyd’s talent, leadership and inclusion...
People Moves: Zurich’s Hart Moves to Munich Re Specialty; AXA XL Promotes Design Professional Team’s Kendall
Mar 1 2022 // Munich Re Specialty Insurance (MRSI) has named long-time Zurich North America executive Sabrina Hart as president of its excess and surplus lines business. Hart is charged with expanding E&S’s specialty product...
People Moves: Surplus Line Association of California Names Beaver Board Chair, Gobler Vice Chair, Washington Secretary
Feb 28 2022 // The members of the Surplus Line Association of California elected Janet Beaver as chair of the SLA board. Eligible members of the SLA elected her via an electronic vote taken prior to the SLA’s virtual annual meeting...
U.S. P/C Industry Grew Surplus Despite Underwriting Loss in 2021
Feb 24 2022 // Insurance rating agency AM Best said it expects the U.S. property/casualty insurance industry to record an increase in surplus in 2021 thanks to investment income and capital gains improvements despite booking an...
Applied Underwriters to Buy Catlin Specialty From AXA XL
Feb 24 2022 // Applied Underwriters said it will acquire Catlin Specialty Insurance Company from the AXA XL group of companies. Applied said it will consolidate Catlin into the North American Casualty group of companies in a move...
People Moves: Beazley’s Eaton to Retire at End of 2022; BHSI Promotes Flesch to Head of Marine in Germany; Oneglobal Latin America Taps Generali’s Silva to Lead Regional Team
Feb 23 2022 // This edition of International People Moves details appointments (and a retirement) at Beazley, Berkshire Hathaway Specialty Insurance (BHSI) and Oneglobal Broking. A summary of these announcements follows...
Agency’s Specialty Portfolio Often Fragmented by Working With Multiple Carriers
Feb 23 2022 // The Hanover Insurance Group recently released its State of Specialty Insurance Report, which highlights the risks of fragmentation in the marketplace. The report spotlights the advantages agencies realize when they create...
Nexus Underwriting Management Ltd. to Be Renamed Kentro Capital Ltd.
Feb 23 2022 // Nexus Underwriting Management Ltd. (NUML), the London-based specialty managing general agent and intermediary, announced it will be renamed Kentro Capital Ltd. Nexus Underwriting (Nexus), the specialty MGA, and Xenia...
People Moves: Insurtech BOXX Canada Hires Beazley’s Baker as President; Williams Takes Role of M.D., Hiscox Guernsey; AXA XL Names Wells U/W, Marine – UK & Lloyd’s
Feb 22 2022 // This edition of International People Moves details appointments at insurtech BOXX Insurance, Hiscox and AXA XL. A summary of these new hires follows here. Cyber Insurtech BOXX Canada Hires Beazley’s Baker as...
