Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Caliber One Exiting E&S Lines; Calif., Texas Were Top 2 States of Business
May 27 2002 // Saying the move will allow the company to devote all of its financial resources and managerial attention to its best performing businesses, PMA Capital has decided to withdraw from the excess and surplus (E&S) lines...
Protect Your Customers from Watered-DownPWC Coverage
May 27 2002 // The United States boasts nearly 51 million acres of lakes, 633,000 miles of rivers and 88,600 miles of coastal shoreline. So, it’s little wonder that water recreation is a popular summer pastime. In recent years,...
Caliber One Exiting E&S Lines; Calif., Texas Were Top 2 States of Business
May 27 2002 // Saying the move will allow the company to devote all of its financial resources and managerial attention to its best performing businesses, PMA Capital has decided to withdraw from the excess and surplus (E&S) lines...
Lloyd’s, London Brokers Set Up Benchmark Program
May 22 2002 // Lloyd’s and the London Market Insurance Brokers’ Committee (LMBC) announced that they have jointly established a new benchmarking program for the London Insurance Market. The program will allow insurers and...
Standard and Poor Assigns Western Specialty Insurance Co. ‘R’ FSR
May 17 2002 // Standard & Poor’s has assigned its ‘R’ financial strength rating to Western Specialty Insurance Co. in recognition of an order of liquidation issued by the Cook County Circuit Court in Illinois on...
Hull & Co. Enjoys AAMGA’s Annual Meeting
May 17 2002 // Some of Hull & Company’s Senior Management team were seen having a serious business meeting at their poolside cabana during the May 5-9 AAMGA meeting at the Bellagio Hotel in Las Vegas. Hull & Company has...
CORRECTION: Lloyd’s SP Rating is Single ‘A’
May 16 2002 // The title of the May 14th article concerning Standard & Poor’s removal of the Lloyd’s market from CreditWatch incorrectly had a dash/minus symbol attached to the ‘A’ rating. This was an error...
S&P Removes Lloyd’s from CreditWatch, Affirms ‘A’ Rating
May 14 2002 // Standard & Poor’s announced that it has removed the Lloyd’s insurance market from CreditWatch, where it was placed on Sept. 20, 2001, and has affirmed its single-‘A’ insurer financial strength...
Lloyd’s Change to Annual Accounting Results in $4.5 Billion Loss Estimate
May 13 2002 // Lloyd’s decision to begin reporting its syndicates profits and losses on an annual basis, rather than over three years, proved costly. Last year’s losses are estimated at £3.11 billion ($4.5 billion) overall,...
Lloyd’s Rating Maintained
May 13 2002 // A.M. Best Co. maintained the “A-” (Excellent) financial strength rating of the Lloyd’s market after the recent announcement of a 2001 loss of GBP 3.11 billion, on an annually accounted basis. To date,...
Lloyd’s Change to Annual Accounting Results in $4.5 Billion Loss Estimate
May 13 2002 // Lloyd’s decision to begin reporting its syndicates profits and losses on an annual basis, rather than over three years, proved costly. Last year’s losses are estimated at £3.11 billion ($4.5 billion) overall,...
CALIBER ONE EXITING E&S SURPLUS LINES MARKETPLACE
May 13 2002 // PMA Capital has decided to withdraw from the excess and surplus (E&S) lines marketplace served by its Caliber One business segment, even though PMA Capital shows strong growth and operating income for PMA Re and the...
Ill. Orders Western Specialty into Liquidation
May 10 2002 // Illinois Insurance Director Nat Shapo announced that the Cook County Circuit Court issued an Order of Liquidation against Western Specialty Insurance Company of Oak Brook, Ill., on May 6, following a determination by the...
KEMPES Names Mahoney President; Pair of
May 10 2002 // John Mahoney was named president of Arizona-based KEMPES, the Kemper Insurance Cos.’ unit that underwrites specialty program business. In related moves, Dan Beaudette was named vice president of the Denver P&C...
Lloyd’s to Reexamine Names Buy Out Plan
May 9 2002 // When Lloyd’s Chairman Sax Riley first announced wide ranging plans to reform the 300-year old institution, easing out the remaining individual “Names” was one of the most radical, and controversial,...
W.R.Berkley Confirms Increased Stake in Lloyd’s Kiln
May 3 2002 // Confirming earlier reports (See IJ Website April 26), Connecticut-based W. R. Berkley Corp. announced that it has agreed to increase its ownership in U.K.-based Kiln plc, a leading Lloyd’s insurer, to 20.1...
Caliber One Exiting Excess and Surplus Lines Marketplace
May 3 2002 // PMA Capital has decided to withdraw from the excess and surplus (E&S) lines marketplace served by its Caliber One business segment, even though PMA Capital shows strong growth and operating income for PMA Re and The...
Lloyd’s Riley Urges Passage of Terrorist Insurance Bill
May 2 2002 // Following recent meetings with policy makers in Washington D.C., Lloyd’s Chairman Sax Riley issued a statement urging U.S. lawmakers to pass the stalled terrorist coverage bill. “Lloyd’s was one of the...
State National Specialty Approved for Business in W.Va., Iowa
May 2 2002 // State National Specialty Insurance Company, a Fort Worth, Texas-based unit of State National Companies, has received authorization to write multiple lines of insurance in West Virginia and Iowa. The West Virginia...
Michael Wade’s Appointment as Brit Director May Signal Consolidations at Lloyd’s
Apr 30 2002 // According to a report in London’s Financial Times the appointment of Michael Wade, the CEO of Rostrum, an investment management group, as a director of Brit Insurance may be a signal that further consolidation in the...
