Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
‘AA’ Ratings for HCC Subs
Dec 16 2002 // Standard & Poor’s Ratings Services assigned its “AA” counterparty credit and financial strength ratings to HCC Specialty Insurance Co. (HCC Specialty) and HCC Life Insurance Co. (HCC Life). Also...
Movin’ & Shakin’: ERC, Lloyd’s Shake Up Reinsurance Market
Dec 16 2002 // The events of Sept. 11 were a defining moment in the reinsurance market; a watershed event that opened up the eyes of everyone in the insurance industry, forcing a re-evaluation of the industry’s practices,...
8 is Enough – Programs That Caught Our Eye
Dec 16 2002 // For this end-of-the year edition of Insurance Journal, we looked at some unique or interesting programs and found eight that grabbed our attention. Obviously they do not represent a comprehensive list, which is admittedly...
Grabbing the Headlines in 2002
Dec 16 2002 // Who made the most “news” as opposed to the most “noise” in 2002? There were lots of candidates, but the ones we’ve selected usually made news because they faced problems or took initiatives...
They Did It Their Way
Dec 16 2002 // When you’re compiling a list of top 10’s, there is always the fear of leaving someone off, admitting someone who maybe does not deserve the billing or having the players out of order of importance. Believe me,...
Martin Hudson Named CEO of The St. Paul at Lloyd’s
Dec 13 2002 // The St. Paul Companies announced that Martin Hudson has been named as the new CEO of The St. Paul at Lloyd’s, following the resignation of David Reed. Hudson, who will also retain his current position as CEO of St....
Lloyd’s 2003 Capacity Over $22 Billion
Dec 12 2002 // Lloyd’s CEO Nick Prettejohn announced that the venerable institution’s market capacity would be the biggest it has ever had in its 315 year history – £14.25 billion ($22.47 billion), an increase of...
Nebraska Insurance Dept. Approves Excess Med Mal Rate Increases
Dec 9 2002 // Tim Wagner, Director of the Nebraska Department of Insurance, announced that rates charged by the Nebraska Excess Liability Fund for excess medical professional liability insurance for doctors, hospitals and other health...
Trenwick Gets Agreement “in Principle” for 2003 Lloyd’s Funding
Dec 9 2002 // Bermuda-based Trenwick Group Ltd. announced today that it has reached an agreement in principle with its Lloyd’s letter of credit providers which will allow it to continue underwriting at Lloyd’s in 2003. The...
The St. Paul Cos. Forms New Underwriting Unit for National Program Business
Dec 6 2002 // The St. Paul Companies announced the formation of a new underwriting operation for national program business, an addition to its portfolio of specialty commercial business units. The new business unit, Specialty Programs,...
First Capital, United National Offer Umbrella, Excess Third Party Lines
Dec 6 2002 // First Capital Group, a Roslyn Heights, N.Y.-based program manager, announced it has partnered with United National Group to provide commercial umbrella and excess third party liability lines nationwide. The new program...
Lloyd’s CEO Explains Reforms to Royal Institute
Dec 5 2002 // Lloyd’s CEO Nick Prettejohn, speaking Tuesday at the Royal Institute of International Affairs, gave a ringing endorsement of Lloyd’s reform program. Opening his remarks with a rhetorical question: “Is...
The St. Paul Launches New Lloyd’s Syndicate
Nov 27 2002 // The St. Paul at Lloyd’s announced the launch of Syndicate 5000, its newly created corporate syndicate that will specialize in underwriting non-life business at Lloyd’s on behalf of The St. Paul Companies...
AXIS to Buy Aon’s Specialty Underwriting Unit
Nov 25 2002 // Following recently-announced plans to exit its specialty insurance underwriting operations, Aon Corporation of Chicago entered an agreement in principle to sell its specialty property and casualty insurance subsidiary,...
Get to Know Your State Legislators
Nov 25 2002 // If there was one message speakers at the 2002 Annual Meeting of the Texas Surplus Lines Association (TSLA) wanted their audience to go away with, it was: Get to know your state legislators. That was the mantra chanted by...
Argonaut Subs Rated ‘A’
Nov 25 2002 // S&P assigned its “A” counterparty credit rating and FSR to the members of the Colony Intercompany Pool and to Argonaut Great Central Insurance Co. It also affirmed its “A” ratings on the...
Axis Specialty to Buy Aon’s P/C Underwriting Unit
Nov 15 2002 // Aon has agreed to sell its Sheffield Insurance Corporation, a specialty property and casualty insurance subsidiary, to Bermuda’s Axis Specialty Limited for an undisclosed price, subject to regulatory approval. Aon...
Lloyd’s Names Franchise Board Members
Nov 14 2002 // Lloyd’s has selected ten of the eleven members who will serve on the newly created Franchise Board (FB) which will take over management of the insurance market’s supervisory and commercial affairs beginning...
Lloyd’s Syndicate Rated ‘A’
Nov 11 2002 // A.M. Best Co. assigned a syndicate rating of “A” with stable outlook to Lloyd’s Syndicate 510, managed by R. J. Kiln & Co. Ltd. The rating reflects the syndicate’s excellent current and...
Airlines Look to Provide Their Own War and Terrorist Coverage
Nov 11 2002 // More than a year after Sept. 11, the U.S., the European Union (EU) and many other countries are still working on ways to provide adequate insurance coverage for their air carriers. While several plans have been suggested,...
