All the headlines from our Excess Surplus Topic Page, ordered by recency.
May 22 2002 // Lloyd’s and the London Market Insurance Brokers’ Committee (LMBC) announced that they have jointly establisheda new benchmarking program for the London Insurance Market. The program will allow insurers and...
May 17 2002 // Standard & Poor’s has assigned its ‘R’ financial strength rating to Western Specialty Insurance Co. in recognition of an order of liquidation issued by the Cook County Circuit Court in Illinois on...
May 17 2002 // Some of Hull & Company’s Senior Management team were seen having a serious business meeting at their poolside cabana during the May 5-9 AAMGA meeting at the Bellagio Hotel in Las Vegas. Hull & Company has...
May 16 2002 // The title of the May 14th article concerning Standard & Poor’s removal of the Lloyd’s market from CreditWatch incorrectly had a dash/minus symbol attached to the ‘A’ rating. This was an error...
May 14 2002 // Standard & Poor’s announced that it has removed the Lloyd’s insurance market from CreditWatch, where it was placed on Sept. 20, 2001, and has affirmed its single-‘A’ insurer financial strength...
May 13 2002 // Lloyd’s decision to begin reporting its syndicates profits and losses on an annual basis, rather than over three years, proved costly. Last year’s losses are estimated at £3.11 billion ($4.5 billion) overall,...
May 13 2002 // A.M. Best Co. maintained the “A-” (Excellent) financial strength rating of the Lloyd’s market after the recent announcement of a 2001 loss of GBP 3.11 billion, on an annually accounted basis. To date,...
May 13 2002 // Lloyd’s decision to begin reporting its syndicates profits and losses on an annual basis, rather than over three years, proved costly. Last year’s losses are estimated at £3.11 billion ($4.5 billion) overall,...
May 13 2002 // PMA Capital has decided to withdraw from the excess and surplus (E&S) lines marketplace served by its Caliber One business segment, even though PMA Capital shows strong growth and operating income for PMA Re and the...
May 10 2002 // Illinois Insurance Director Nat Shapo announced that the Cook County Circuit Court issued an Order of Liquidation against Western Specialty Insurance Company of Oak Brook, Ill., on May 6, following a determination by the...
May 10 2002 // John Mahoney was named president of Arizona-based KEMPES, the Kemper Insurance Cos.’ unit that underwrites specialty program business.In related moves, Dan Beaudette was named vice president of the Denver P&C...
May 9 2002 // When Lloyd’s Chairman Sax Riley first announced wide ranging plans to reform the 300-year old institution, easing out the remaining individual “Names” was one of the most radical, and controversial,...
May 3 2002 // Confirming earlier reports (See IJ Website April 26), Connecticut-based W. R. Berkley Corp. announced that it has agreed to increase its ownership in U.K.-based Kiln plc, a leading Lloyd’s insurer, to 20.1...
May 3 2002 // PMA Capital has decided to withdraw from the excess and surplus (E&S) lines marketplace served by its Caliber One business segment, even though PMA Capital shows strong growth and operating income for PMA Re and The...
May 2 2002 // Following recent meetings with policy makers in Washington D.C., Lloyd’s Chairman Sax Riley issued a statement urging U.S. lawmakers to pass the stalled terrorist coverage bill. “Lloyd’s was one of the...
May 2 2002 // State National Specialty Insurance Company, a Fort Worth, Texas-based unit of State National Companies, has received authorization to write multiple lines of insurance in West Virginia and Iowa. The West Virginia...
Apr 30 2002 // According to a report in London’s Financial Times the appointment of Michael Wade, the CEO of Rostrum, an investment management group, as a director of Brit Insurance may be a signal that further consolidation in the...
Apr 29 2002 // The property/casualty insurance industry reported a statutory rate of return of negative 2.7 percent in 2001, down from 6.5 percent return for the year 2000. The results were released by the Insurance Services Office, Inc....
Apr 26 2002 // W.R. Berkley will up its share in Lloyd’s insurer Kiln to 20 percent by acquiring 32.8 million newly offered shares in the company at 47 pence (68 cents) and the acceptance of a two-for-three rights issue at the same...
Apr 23 2002 // A.M. Best announced that it has maintained the A- (Excellent) financial strength rating of the Lloyd’s market “after the recent announcement of a 2001 loss of GBP 3.11 billion [$4.5 billion], on an annually...