All the headlines from our Excess Surplus Topic Page, ordered by recency.
Jun 21 2007 // Bermuda’s Montpelier Re Holdings Ltd. announced that it has received approval from Lloyd’s for the commencement of trading on July 1, 2007 of a new Syndicate, to be known as Montpelier Syndicate 5151, pseudonym...
Jun 21 2007 // New Jersey-based American Safety Insurance Services, Inc. said it has acquired a team of underwriters and entered the surplus lines property market, offering both monoline property and commercial multi-peril...
Jun 20 2007 // The ICC International Maritime Bureau (IMB) has issued an alert to all sea traffic off the Horn of Africa. “Heavily armed pirates are subjecting vessels to violent attacks while in international waters,” said a...
Jun 18 2007 // Stock Prices: Overall, brokers’ stocks have performed well year-to-date, up 8 percent. A strong contributor to the stock price increase is the merger and acquisition premium related to the high prices private equity...
Jun 14 2007 // Lloyd’s has appointed Jose Ribeiro, currently Willis’ Managing Director for Latin America and the Caribbean, as its new Director of International Markets and Business Development. He assumes responsibility...
Jun 11 2007 // Lloyd’s announced that it has reached a settlement with brokers Aon and Benfield of litigation centering on the placement terms of the New Central Fund insurance policy, issued in 1999. Benfield made a similar...
Jun 11 2007 // Global investment manager D. E. Shaw group has organized a Bermuda-based holding company to acquire James River Group, Inc. a North Carolina- based excess and surplus and workers’ compensation insurer, in a...
Jun 7 2007 // Lloyd’s announced plans to “return to the debt markets with a benchmark issue of Tier 1 perpetual subordinated debt.”The bulletin said the “issue will give greater flexibility and liquidity to...
Jun 5 2007 // Eight new insurers entered the property and casualty insurance marketplace in Florida since January 1, 2007 according to the Florida Office of Insurance RegulationThe insurers represent a variety of insurance entities...
May 31 2007 // Arch Insurance Group, a subsidiary of Arch Capital Group Ltd., announced the following executive moves in its property division effective immediately:Michael Kmetz has been promoted to senior vice president and will be the...
May 31 2007 // Sue Langley, previously Chief Operating Officer at Hiscox, is leaving the Bermuda-based/UK insurer to take up a new position as Lloyd’s Director, Market Operations and North America. She is expected to formally join...
May 25 2007 // The Navigators Group, Inc.’s principal underwriting agency subsidiary, Navigators Management Company, has established the Specialty Program Division. Products underwritten for niche markets by the division will...
May 24 2007 // Bermuda-based Ironshore Insurance Ltd. reports it has been approved to write property, property catastrophe and casualty insurance on an excess and surplus basis for risks in Florida.Ironshore, formed in late 2006, is a...
May 24 2007 // Max Specialty Insurance Co., based in Richmond, Virginia, is now an eligible surplus lines carrier in 45 states, with the recent addition of New York, North Carolina and Kansas.Max Capital Group Ltd.,through its operating...
May 23 2007 // Business Risk Partners and Praetorian Financial Group are launching insurance products: Private Accord and Excess Guardian.Private Accord is a directors and officers liability package product for small and middle market...
May 22 2007 // A.M. Best Co. has affirmed the financial strength rating of “A” (Excellent) and the issuer credit rating (ICR) of “a+” of ACE Insurance Limited (Australia) and ACE Insurance Limited (New Zealand)...
May 21 2007 // In 1968 when the Maurice “Hank” Greenberg took over what was to become American International Group (AIG), it was an insurance agency selling other insurers’ policies around the globe. Within years, AIG...
May 21 2007 // Whether the market is “soft” or “softening” doesn’t make a difference. There’s still a place for the excess and surplus lines broker in the mix, says Neal Abernathy, CEO of Swett and...
May 21 2007 // Lloyd’s and Economist Intelligence Unit report warns of threats from political violenceGlobal business leaders report they are increasingly concerned about risk; prevents some from investing overseas A new report...
May 21 2007 // Massachusetts Attorney General Martha Coakley has reached a $58.5 million settlement with American International Group (AIG), the workers’ compensation carrier for the Central Artery Tunnel (CA/T) Project, known as...