All the headlines from our Excess Surplus Topic Page, ordered by recency.
Jul 16 2003 // Illinois surplus lines carriers are protesting a retroactive tax hike that was enacted to help address the state’s budget deficit, according to Springfield’s State Journal-Register. The surplus lines producer...
Jul 9 2003 // Ted Pierce, executive director of the Surplus Line Association of California, released the association’s 2003 six month totals for processed surplus line premium, revealing a 44 percent increase over the 2002 premium...
Jul 9 2003 // ARC Excess and Surplus, LLC, established in 1986 on the east coast, has opened a west coast office in Pasadena, Calif. ARC West Coast Excess & Surplus is as a wholesale insurance broker focusing exclusively on...
Jul 8 2003 // California-based CenCal Insurance Services, known for expertise in non-standard automobile products and services, is expanding operations to include commercial programs and specialty products for business and property...
Jul 8 2003 // London’s Goshawk Insurance, a specialty insurer and reinsurer, which manages Lloyd’s Syndicate 102, warned that it may not meet profit forecasts for the year due to adverse developments. The news not only sent...
Jul 7 2003 // A.M. Best Co. has assigned an initial financial strength rating of A- (Excellent) to James River Insurance Company (James River) (Wilmington, Del.). The rating outlook is stable.The company is the insurance subsidiary of...
Jul 7 2003 // The U.S. property/casualty industry’s net income after taxes rose 20.6 percent to $6.4 billion in first-quarter 2003 from $5.3 billion in first-quarter 2002, driven by improved underwriting results and an increase in...
Jul 7 2003 // The property/casualty insurance industry reported a statutory rate of return of 8.8 percent in the first quarter of 2003, up from a disappointing 1.0 percent in 2002 and the worst-ever negative 2.4 percent recorded in...
Jul 7 2003 // The Annual Western States Surplus Lines Conference meets July 9-12 in Big Sky, Montana, drawing hundreds of industry professionals and their families to the open country for three days of fun, relaxation, and of course,...
Jul 7 2003 // The U.S. property/casualty industry’s net income after taxes rose 20.6 percent to $6.4 billion in first-quarter 2003 from $5.3 billion in first-quarter 2002, driven by improved underwriting results and an increase in...
Jul 7 2003 // The property/casualty insurance industry reported a statutory rate of return of 8.8 percent in the first quarter of 2003, up from a disappointing one percent in 2002 and the worst-ever negative 2.4 percent recorded in...
Jul 7 2003 // A.M. Best Co. placed the financial strength rating of “A-“(Excellent) of the Atlantic Mutual Cos. under review with negative implications. Concurrently, the “bbb” debt rating of Atlantic Mutual...
Jul 2 2003 // Standard & Poor’s Ratings Services lowered its counterparty credit and financial strength ratings on the members of the Kemper Insurance Cos. intercompany pool to “CCC” from “B-” with a...
Jul 2 2003 // Alleghany Corporation and the U.K.’s Royal & Sun Alliance announced that they have successfully completed the sale of Royal Specialty Underwriting, Inc., R&SA’s Atlanta, Georgia-based excess and...
Jul 2 2003 // A.M. Best Co. has assigned a financial strength rating of A (Excellent) to Underwriters Reinsurance Company (URC) (New Hampshire), soon to be renamed RSUI Indemnity Company. The rating outlook is stable.The rating action...
Jul 2 2003 // The James River Group Inc. announced it has formed as an insurance holding company headquartered in Chapel Hill, N.C. Additionally, the company reported that it bought Fidelity Excess and Surplus Insurance Company from...
Jul 1 2003 // A.M. Best Co. announced that it has upgraded the financial strength rating to A- (Excellent) from B++ (Very Good) of the U.K.-basedarkel International Insurance Company Ltd (MIIC), has also assigned a Best’s...
Jul 1 2003 // Jefferies & Company, an investment bank, has reportedly filed suit in L.A. Superior Court against Lloyd’s and American International Group for refusing to pay legal defense costs under D&O policies issued...
Jun 27 2003 // Moody’s Investors Service has downgraded the insurance financial strength ratings of members of the Kemper Insurance Cos. inter-company pool “Caa3” from “B3.” In the same action, Moody’s...
Jun 23 2003 // Lloyd’s has released the results of a survey, which shows that the demand for specialist insurance cover is expected to rise significantly over the next two years as a direct result of European weather and liability...