All the headlines from our Excess Surplus Topic Page, ordered by recency.
Nov 1 2001 // Lloyd’s took issue with Moody’s Investors Service’s decision to downgrade five of its leading underwriting syndicates, and its implications that the provisions of its central fund, which is called upon to...
Oct 29 2001 // Lloyd’s confirmed earlier reports (See IJ Website Oct. 26) that it has reached an agreement with the New York State Insurance Department which provides for the funding of the reinsurance trust that the NYSID...
Oct 29 2001 // Lloyd’s of London, the world’s oldest and most visible insurer, has set about dealing with the aftermath of the terrorist attacks of Sept. 11. Two weeks after the event, it released its projected net loss...
Oct 29 2001 // If the nautical term best applied to the reinsurance industry last year this time would have been “Steady as she goes,” after the catastrophe that struck the U.S. on Sept. 11, the French term “sauve qui...
Oct 26 2001 // Lloyd’s and the National Association of Insurance Commissioners have reportedly reached a compromise on the deposit Lloyd’s must make to the reinsurance trust fund to guarantee payments of its estimated claims...
Oct 25 2001 // On Tuesday The National Association of Insurance Commissioners reversed its previous decision to permit Lloyd’s to deposit 60 percent, rather than 100 percent, of the amount normally required into its U.S....
Oct 24 2001 // Lloyd’s confirmed an earlier report from Standard & Poor’s that gross losses from the events of September 11 will be around £5.4 billion ($7.7 billion). The net loss estimate of £1.3 billion...
Oct 24 2001 // State Farm made another big investment in the reinsurance market, when it agreed to provide an additional £100 Million ($142.5 million) in capital to Lloyd’s Amlin syndicate in which it is a major...
Oct 24 2001 // Cincinnati, Ohio-based The Midland Company, a highly focused provider of specialty insurance products and services, reported third quarter 2001 results ahead of its previous announcement.For the quarter ended Sept. 30,...
Oct 22 2001 // The state of Missouri awarded Fort Worth-based State National Specialty Insurance Company a certificate of authority for writing multiple lines of insurance. The authorization allows State National Specialty to write...
Oct 18 2001 // Lloyd’s Names were warned that they would receive cash calls in the next few days from the syndicates in which they participate asking for additional deposits averaging between £42,000 and £50,000...
Oct 16 2001 // The National Association of Insurance Commissioners intends to conduct an in depth audit of Lloyd’s financial condition following the attacks on the World Trade Center. The investigation will focus on Lloyd’s...
Oct 16 2001 // Aon Corporation will expand its underwriting operations to include direct property and casualty insurance and reinsurance policies, the company announced on Oct. 12. This coverage will be provided in addition to existing...
Oct 11 2001 // Moody’s Investors Service downgraded the performance rating of Alleghany Underwriting Ltd.’s Lloyd’s Syndicate 376 form “B-Average” to “C+-Below Average” and kept it under review...
Oct 11 2001 // The state of Missouri awarded State National Specialty Insurance Company a certificate of authority for writing multiple lines of insurance. This authorization allows State National Specialty to write casualty, marine and...
Oct 11 2001 // American Modern Insurance Group and the American Express Property Casualty companies announced a partnership which adds manufactured home, motor home, travel trailer, and nonstandard specialty homeowner products to...
Oct 10 2001 // The state of Missouri awarded State National Specialty Insurance Company a certificate of authority for writing multiple lines of insurance. This authorization allows State National Specialty to write casualty, marine and...
Oct 9 2001 // 220 of the “Names” involved in litigation against Lloyd’s, known generally as the “Jaffray Case,” were given leave to appeal last November’s lower court judgment by Mr. Justice Cresswell...
Oct 8 2001 // Wellington Underwriting, a leading operator of a number of Lloyd’s Syndicates, announced that its losses from the September 11 attacks on the U.S. would be around £50 million ($73.5 million), substantially more...
Oct 8 2001 // Lloyd’s of London, the world’s oldest and most visible insurer, finally released its projected loss figures from the disastrous events of Sept. 11. According to the calculations from over 100 syndicates, net...