All the headlines from our Excess Surplus Topic Page, ordered by recency.
Nov 26 2004 // The U.K.’s Wellington Underwriting plc. announced that it has completed the purchase of AXA Corporate Solutions Excess and Surplus Lines Insurance Company, first announced on June 25, 2004.The bulletin noted that...
Nov 24 2004 // A.M. Best Co. announced that it has affirmed its “A” (Excellent) Syndicate Rating and the issuer credit rating of “a+” of Lloyd’s Syndicate 2001, which is managed by Amlin Underwriting Limited...
Nov 24 2004 // A.M. Best Co. has assigned an initial financial strength rating of A- (Excellent) and an issuer credit rating of “a-” to Wellington Specialty Insurance Company (Scottsdale, Ariz.) (Wellington Specialty), a...
Nov 22 2004 // PCI Execs Contend Current Players Will Adapt to Maintain AdvantagesTen years from now, some of the players within the property/casualty insurance industry will have changed but the industry itself will not look...
Nov 19 2004 // A.M. Best Co. announced that it has affirmed its Syndicate Rating of “A” (Excellent) and the issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 510, which is managed by the U.K.-based R J...
Nov 18 2004 // A.M. Best Co. announced that it has withdrawn ratings on Denmark’s Tryg-Baltica International Insurance Company A/S and Lloyd’s Syndicate 1243, as they have been placed into run off. Both companies, who are not...
Nov 18 2004 // Dallas-based Specialty Underwriters’ Alliance Inc. announced the pricing of its initial public offering of 12,700,000 shares of its common stock at $9.50 per share, before underwriting discounts and commissions. The...
Nov 16 2004 // Bermuda’s ACE Limited has announced several executive appointments, as follows: — Andrew Kendrick, currently president and CEO of ACE Bermuda, has been named chairman and CEO of ACE European Group. —...
Nov 16 2004 // NIP Specialty Brokerage LLC of Woodbridge, N.J. has added two senior brokers to its growing team. Shawn Young is a casualty insurance specialist with experience in general liability, products liability, auto liability and...
Nov 11 2004 // Lloyd’s has set the terms for its subordinated debt issue, following a successful presentation to potential investors. “The transaction met with a very positive response from a wide range of quality...
Nov 10 2004 // ACE USA, the U.S.-based retail operating division of The ACE Group of Companies, announced the appointment of Connie Germano as senior vice president to lead the Excess Casualty and Custom Casualty businesses. Germano will...
Oct 29 2004 // Robert Damon-Aspen has been jailed for two and a half years for deception conducted through his internet-based insurance intermediary business CFT Group Insurance Services.He reportedly used the Internet to take premiums...
Oct 28 2004 // The London market in general and Lloyd’s in particular has not been overly verbose in commenting on New York State Attorney General Eliot Spitzer’s ongoing investigation of the insurance industry. Apart from a...
Oct 28 2004 // The St. Paul Travelers Cos. Inc. (NYSE:STA) has reported net income of $340 million for the third quarter ended Sept. 30, 2004, or $0.51 per basic share and $0.50 per diluted share, compared to $426 million, or $0.98 per...
Oct 27 2004 // Noodle Specialty Brokers (NSB), a division of InsuranceNoodle, Inc., announced: “Surplus lines liability products from an A+ XV-rated non-admitted carrier are now available via appointed wholesalers in 17 states and...
Oct 27 2004 // Guy Carpenter & Company Inc. has announced the introduction of the Reveal model, a refined exposure rating tool that helps to identify the drivers of costly excess losses within workers’ compensation...
Oct 25 2004 // Even before Charley and Frances, insurers were fleeing the homeowners market for high-risk properties at an alarming pace. Over the last several years, large catastrophe and mold losses have caused insurers to dramatically...
Oct 25 2004 // Advisors Tackle Acquisitions, Consolidations at Surplus Lines MeetingAgency consolidations, consolidator’s objectives and a broad range of other trends and developments were highlighted by Steven S. Wevodau and...
Oct 21 2004 // Cincinnati-based The Midland Company, a provider of specialty insurance products and services, reported results for the third quarter ended Sept. 30, 2004.Net income per share was 12 cents, which included 1 cent in...
Oct 18 2004 // Iain Saville, Lloyd’s Head of Business Process Reform, announced a further improvement in slip quality, but urged the market not to let up in its drive to improve the quality of slips as it enters the renewal...