capacity News

AIG Increases Global Commercial Property Limits to $2.5B

American International Group, Inc. (AIG) has significantly raised available global commercial property limits to $2.5 billion per occurrence. According to the company, the move responds to the growing demand for capacity and services by clients managing more complex global risks …

Ironshore Increases Capacity to $25 Million for Energy Risks

Ironshore Energy Property has increased capacity to $25 million for energy risks throughout its global platform. This increase in capacity is available across all classes within the energy sector, including refineries, petrochemical plants, chemical plants, gas plants, pipelines, terminals, mining …

Everest Re’s Special Purpose Reinsurer Reaches $370 Million of Capacity

Everest Re Group, Ltd.’s special purpose reinsurer, Mt. Logan Re, Ltd., has secured additional funding, which brings current committed capacity to $370 million, above its initial target funding of $250 million. Mt. Logan Re, which was formed in early 2013, …

Ironshore Increases Capacity for Select U.S. Specialty Lines

Ironshore Inc. will be providing coverage of up to $50 million for selected U.S. casualty lines, as of January 1, 2014. Increased capacity, up from the current limits of $25 million, will be available in the U.S. for Specialty Casualty, …

Arch Insurance Group’s Contract Binding Operations Launch Excess Liability Capacity

Arch Insurance Group, a subsidiary of Arch Capital Group Ltd., has increased limits of up to $5 million on its general liability coverage in the newly-formed Contract Binding Operations. The Arch Contract Binding Operations unit, which started operations earlier this …

Ironshore Adds Surety Capacity Through Lexon, Boston Indemnity Group

Ironshore Inc. and Lexon Surety Group are broadening their strategic alliance by providing additional capacity for Boston Indemnity Group (BIG), a subsidiary of Lexon and a privately-held insurance holding company specializing in the business of surety bonds. Ironshore will provide …

ACE Expands Catastrophe Capacity in North America

The ACE Group has increased catastrophe limits to $30 million across all its North American retail and wholesale broker-distributed commercial property lines of business. This capacity will be offered through ACE’s network of property businesses, which includes fronting and captive …

ACE Establishes Special Purpose Vehicle, Altair Re

ACE Limited has established a $95 million special purpose vehicle, Altair Re, to provide additional collateralized capacity for its global reinsurance business. The capital will be used to support ACE Tempest Re’s global property catastrophe reinsurance portfolio. Altair Re gives …

PartnerRe Ltd. Establishes New Companion Facility, Lorenz Re

PartnerRe Ltd. has formed Lorenz Re Ltd., a special purpose insurer domiciled in Bermuda. Lorenz Re was capitalized with $75 million through the issuance of multiple classes of preference shares. It will provide additional capacity to PartnerRe on a diversified …

Ironshore Canada Increases Capacity for Specialty Casualty Lines

Ironshore Canada Ltd., a subsidiary of Ironshore International, has increased capacity to $30 million for its specialty casualty lines for 2013. Ironshore Canada Specialty Casualty division offers coverages to protect a range of industry sector risks, including manufacturing, commercial construction, …