All the headlines from our Excess Surplus Topic Page, ordered by recency.
Nov 3 2003 // Lloyd’s has issued a statement concerning the withdrawal of the U.K.’s Goshawk Insurance Holdings’ Syndicate 102 from the Lloyd’s market, indicating that the it will no longer be able to accept any...
Nov 3 2003 // Ted Pierce, executive director of the Surplus Line Association of California (SLA), released the association’s nine-month total for processed surplus line premium showing an 82 percent increase over the 2002 premium...
Nov 3 2003 // Nuts & Bolts: AIG Private Client Group, a division of the property and casualty subsidiaries of American International Group Inc. (AIG), has introduced excess flood coverage to support insureds in the event of...
Nov 3 2003 // A year ago the reinsurance world had an optimistic side most companies had survived their exposures to 9/11 and premiums were rising. A pessimistic side reflected a 25 percent decline in capacity, thus limiting new...
Nov 3 2003 // The American Association of Managing General Agents (AAMGA) will hold its mid-year meeting at the Phoenician Resort & Spa in Scottsdale, Ariz., on Nov. 13-15. At the heart of this year’s meeting will be several...
Nov 3 2003 // A year ago the reinsurance world had an optimistic side most companies had survived their exposures to 9/11 and premiums were rising. A pessimistic side reflected a 25 percent decline in capacity, thus limiting new...
Nov 3 2003 // And then there were two.That is the scenario for this month’s runoff election (Nov. 15) in the race to be the next insurance commissioner in Louisiana. The Oct. 4 primaries brought the field of candidates down to...
Oct 31 2003 // The U.K.’s Goshawk Insurance Holdings announced that it will exit the Lloyd’s market due to a series of losses dating back to 2001, and will henceforth concentrate on Goshawk Re its Bermuda-based reinsurance...
Oct 29 2003 // San Antonio-based Argonaut Group Inc. announced financial results for the three- and nine-month periods ended Sept. 30, 2003.According to the company, highlights for the third quarter of 2003 include: · The...
Oct 29 2003 // Odyssey Re Holdings Corp. announced that its subsidiary, Odyssey America Reinsurance Corporation, had closed on its purchase of the shell company, General Security Indemnity Company, from SCOR Reinsurance Company. The...
Oct 29 2003 // A.M. Best Co. has assigned an initial financial strength rating of A- (Excellent) to Aspen Specialty Insurance Company, the recently formed U.S. insurer that is part of the Aspen Group, which includes the ultimate parent...
Oct 29 2003 // Bermuda’s Montpelier Re Holdings Ltd. reported net income of $91 million, or $1.34 diluted earnings per share, for the three months to September 30, 2003.The company’s net income for the first nine months of...
Oct 29 2003 // Virginia-based Markel Corporation confirmed the estimates it gave on Oct. 22 that it would suffer a third quarter loss (see IJ Web site Oct. 23). It reported a net loss of $1.68 per diluted share for the quarter ended...
Oct 28 2003 // AIG Private Client Group, a division of the property and casualty subsidiaries of American International Group, Inc. (AIG), has expanded its Excess Flood Program to 17 additional states across the country, bringing the...
Oct 28 2003 // Bermuda’s RenaissanceRe Holdings Ltd. announced the appointment of Robert J. Lamendola as Senior Vice President to lead the continued development of its surety reinsurance business, and James R. Lewis as Vice...
Oct 27 2003 // Speaking to the New York Risk Insurance Management Society on Friday, Lloyd’s Chairman, Lord Peter Levene, stressed the role insurance plays in business, calling it “the oil in the engine of the economy,...
Oct 24 2003 // Two major property/casualty trade associations have expressed serious concerns about a large surplus in the National Association of Insurance Commissioners’ (NAIC) proposed 2004 budget.For the three-year period...
Oct 22 2003 // A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) of Goshawk Reinsurance Limited (Goshawk Re), Bermuda, and removed the rating from under review.This follows detailed discussions with the Goshawk...
Oct 20 2003 // Richard Bouhan, executive director of NAPSLO, and California Insurance lobbyist Dietmar Grellman of Norwood & Associates stressed the need for vigilance and activism at a breakfast sponsored by the California...
Oct 20 2003 // The property/casualty insurance industry reported a statutory rate of return of 9.7 percent in the first half of 2003, up from a disappointing 1.0 percent in 2002 and the worst-ever negative 2.4 percent recorded in 2001....