Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Increasing Competition, Flat Exposures Put Drag on Surplus Lines: A.M. Best
Sep 5 2017 // For a second consecutive year, underwriters of surplus lines insurance in the United States generated just modest growth in direct premium of 2.8 percent in 2016, according to a new A.M. Best special report. Surplus lines...
New York Bus Firms Seek Damages Over Handling of Workers’ Comp Claim
Sep 4 2017 // New York Bus Operators Compensation Trust (NYBOCT), a Bay Shore, N.Y.-based group self-insured trust created by a number of New York passenger bus companies, has filed a complaint against Arthur J. Gallagher & Co.,...
WSIA: Past, Present and Future
Sep 4 2017 // The wholesale, specialty and surplus lines market is healthy and stable with a bright future. Proof of this can be found in recent quantitative analysis like A.M. Best’s 2017 Special Report on U.S. Surplus Lines, as...
Brokers Bucking Disruption: How Wholesalers Hang On Through Change
Sep 4 2017 // As long as there is an insurance industry, wholesaler brokers believe they will have a role to play. “We will continue to be an important sector – a small sector – but still a very important sector of how...
Japan’s Sompo Holdings to Sell Sompo Canopius for $952M to Centerbridge
Sep 1 2017 // Japan’s Sompo Holdings Inc. announced it has agreed to sell Lloyd’s re/insurer Sompo Canopius AG to a private equity consortium led by Centerbridge Partners for $952 million. On completion of the purchase,...
Ascot Launches Specialty MGA, Vertical Underwriting Managers
Aug 31 2017 // Ascot Group Ltd. (AGL) announced the creation of Vertical Underwriting Managers, its first specialty managing general agency (MGA) cell under Ethos Specialty Insurance Services, AGL’s standalone MGA Vertical will...
XL Catlin Adds Technology, Excess D&O Coverage for Design Professionals
Aug 31 2017 // XL Catlin has added two new enhancements to its professional liability insurance for architects, engineers and other design professionals in the US, including an expanded professional services definition and Principal...
Beazley Expands Coverage for Social Engineering, Online Fraud Scams
Aug 30 2017 // Beazley has launched a new excess policy for the U.S. market that significantly expands the protection available to firms that fall victim to impersonation scams by fraudsters convincing employees to wire funds to external...
AXIS Capital’s $611.5M Acquisition of Novae Approved in Shareholder Vote
Aug 29 2017 // AXIS Capital Holdings Ltd. announced that shareholders of Novae Group have approved the company’s acquisition by AXIS. Approximately 99.97 percent of shareholder votes were cast in favor of the deal. AXIS announced...
Lloyd’s Insurers’ Stocks Fall on Possible Claims from Hurricane Harvey
Aug 29 2017 // Lloyd’s of London insurers dropped amid speculation that they will suffer losses from Tropical Storm Harvey that’s battering Houston, the epicenter of the U.S. oil industry. The storm, which which made landfall...
AXIS Sweetens Offer for Lloyd’s Specialty Carrier Novae to $611.5M
Aug 25 2017 // AXIS Capital Holdings Ltd. has substantially sweetened its offer for Novae Group plc, a Lloyd’s of London specialty insurer and reinsurer. AXIS, a Bermuda-based specialty insurer and reinsurer, said it will now pay...
A.M. Best Assigns ‘A’ Rating to New Texas Insurer, Starr Specialty
Aug 23 2017 // Ratings agency, A.M. Best, has assigned a Financial Strength Rating (FSR) of A (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a” to Starr Specialty Insurance Co. (Starr Specialty),...
Ascot Launches P/C Reinsurance MGA: Ethos Specialty Insurance Services
Aug 22 2017 // Ascot Group Ltd. (AGL) has launched Ethos Specialty Insurance Services, LLC, a standalone managing general agent (MGA), operating under AGL. Michael Sillat has been appointed as chief executive officer of Ethos, effective...
Brit Global Specialty USA Taps Aspen’s Liening as SVP, Excess Casualty
Aug 22 2017 // Brit Ltd. announced it has appointed Jonathan Liening as senior vice president, Excess Casualty, for Brit Global Specialty USA. Liening joins BGSU, effective Aug. 21, and is based in Chicago. He reports to Douglas Trainor....
Industrial Insurer HDI Global Forms Excess Surplus Lines Carrier
Aug 18 2017 // Industrial insurer HDI Global Insurance Co. (HDI) has formed an excess and surplus lines subsidiary, HDI Specialty Insurance Co. The new platform will “bring European expertise and solutions” to the alternative...
Pioneer Special Risk to Offer CPL Coverage Expansion For Specialty Contractors
Aug 17 2017 // Pioneer Special Risk has launched a new optional coverage expansion for specialty contractors that offers them the option of including incidental contractors pollution coverage, traditionally required as part of their...
Industry Relevance and Expertise ‘Ours to Lose:’ Catlin
Aug 15 2017 // First of Two Articles After 44 years in the insurance business, Stephen Catlin is retiring at the end of 2017. While he’ll be retiring from his role as executive deputy chairman of XL Group, he emphasizes that he...
XL Catlin’s Bongi Moves to Brit Global Specialty USA to Launch Professional Lines
Aug 15 2017 // Brit Ltd. has appointed Tom Bongi as executive vice president of Professional Lines at Brit Global Specialty USA. Bongi is responsible for establishing and developing Brit’s Professional Lines portfolio in the U.S....
Texas Insurance Industry to Welcome Lloyd’s Chairman at Lloyd’s Day Events
Aug 14 2017 // Specialist insurance market Lloyd’s of London will host Lloyd’s Day Texas to welcome Chairman Bruce Carnegie-Brown to the United States. The event will be held in Dallas on Oct. 4, 2017, and in Houston on Oct....
New Wholesale & Specialty Association Is Born
Aug 7 2017 // Members of the American Association of Managing General Agents (AAMGA) and the National Association of Professional Surplus Lines Offices (NAPSLO) have approved a merger of the two associations, creating the new Wholesale...
