Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
State Fund Issues 2002 Financials; Discusses Reserve Estimates
Aug 4 2003 // California’s State Compensation Insurance Fund has issued its audited statutory-basis financial statements as of Dec. 31, 2002. Net premium written for 2002 was $5.3 billion, an increase of 49 percent from $3.6...
Mitsui Sumitomo and CNA E&S Join Target Markets
Aug 1 2003 // The Target Markets Program Administrators Association announced the membership of two new carrier partners. Mitsui Sumitomo and CNA E&S will be joining a growing list of Carrier Partners in the Target Markets Program...
St. Paul Reports $214 Million Q2 Profit
Jul 31 2003 // The St. Paul Co. announced second-quarter 2003 net income of $214 million, or 89 cents per share, up from a second-quarter 2002 net loss of $223 million, or $1.09 per share. Second-quarter 2003 operating earnings were $172...
Acordia’s American E&S Insurance Operation Acquires RMC2
Jul 24 2003 // American E&S Insurance Brokers of New York Inc. announced today the acquisition of RMC2, LLC, a national excess and surplus insurance broker with offices in the Chicago area and West Palm Beach, Fla. American E&S...
State Fund Issues 2002 Financials, Discusses Reserve Estimates
Jul 23 2003 // California’s State Compensation Insurance Fund has issued its audited statutory-basis financial statements as of Dec. 31, 2002. Net premium written for 2002 was $5.3 billion, an increase of 49 percent from $3.6...
Lloyd’s Of London Seeks Approval for Reinsurance License in China
Jul 23 2003 // Lloyd’s of London chairman Lord Levene will file a submission soon seeking approval to establish an on-shore reinsurance branch in China. Having an on-shore presence would allow Lloyd’s to reinsure local...
Sheffield Earns ‘A’ From S&P
Jul 21 2003 // S&P assigned its “A” financial strength rating to Sheffield Insurance Corp., a writer of specialty insurance, based on its integration into the business plan of its parent, experienced management,...
James River Assigned
Jul 21 2003 // A.M. Best Co. assigned an initial financial strength rating of “A-” (Excellent) to James River Insurance Company (James River). The rating outlook is stable. The company is the insurance subsidiary of James...
James River Assigned
Jul 21 2003 // A.M. Best Co. assigned an initial financial strength rating of “A-” (Excellent) to James River Insurance Company (James River). The rating outlook is stable. The company is the insurance subsidiary of James...
Sheffield Earns ‘A’ From S&P
Jul 21 2003 // S&P assigned its “A” financial strength rating to Sheffield Insurance Corp., a writer of specialty insurance, based on its integration into the business plan of its parent, experienced management,...
HRH Co. Acquires Remaining Interest in New World E&S, LLC
Jul 21 2003 // Hilb, Rogal and Hamilton Company has acquired the remaining 49 percent interest in New World E&S, LLC (New World), a casualty excess and surplus lines facility specializing in excess general liability and umbrella...
Legislation, Building Relationships Mark Year for TSLA Leader
Jul 21 2003 // Paula Burnes, CEO of the Texas Surplus Lines Association (TSLA), recently sat down with Insurance Journal senior writer Dave Thomas to discuss the Association’s role in the industry, its plans for the future, and...
New AIG Construction Specialty to Focus on Builder & Contractors
Jul 21 2003 // Responding to the lack of availability in the construction market, AIG Excess Casualty recently introduced a new excess casualty practice for builders and contractors, AIG Construction Specialty. AIG Construction Specialty...
A.M. Best Affirms Rating of Lloyd’s of London
Jul 18 2003 // A.M. Best Co. has affirmed the financial strength rating of “A-” (Excellent) of Lloyd’s of London. The outlook remains stable. The rating reflects Lloyd’s maintenance of an excellent business...
S&P Updates Royal SunAlliance USA Group Members
Jul 17 2003 // Standard & Poor’s commented on the members of the Royal SunAlliance USA group (RSA USA): Royal Insurance Co. of America, Royal Indemnity Co., Connecticut Indemnity Co., Security Insurance Co. of Hartford,...
Ill. Surplus Carriers Hit by Retroactive Tax
Jul 16 2003 // Illinois surplus lines carriers are protesting a retroactive tax hike that was enacted to help address the state’s budget deficit, according to Springfield’s State Journal-Register. The surplus lines producer...
SLA Reports 44 Percent Increase in Calif. Surplus Lines
Jul 9 2003 // Ted Pierce, executive director of the Surplus Line Association of California, released the association’s 2003 six month totals for processed surplus line premium, revealing a 44 percent increase over the 2002 premium...
ARC Excess and Surplus LLC Opens West Coast Office
Jul 9 2003 // ARC Excess and Surplus, LLC, established in 1986 on the east coast, has opened a west coast office in Pasadena, Calif. ARC West Coast Excess & Surplus is as a wholesale insurance broker focusing exclusively on...
CenCal Insurance Services Forms New Commercial/Specialty Products Division
Jul 8 2003 // California-based CenCal Insurance Services, known for expertise in non-standard automobile products and services, is expanding operations to include commercial programs and specialty products for business and property...
Goshawk Warns on Profits; Best Lowers Syndicate Ratings
Jul 8 2003 // London’s Goshawk Insurance, a specialty insurer and reinsurer, which manages Lloyd’s Syndicate 102, warned that it may not meet profit forecasts for the year due to adverse developments. The news not only sent...
