All the headlines from our Excess Surplus Topic Page, ordered by recency.
Sep 14 2017 // With growth prospects becoming rarer in the continuing competitive insurance market, carriers are among three sets of buyers fueling a hot M&A environment for specialized managing general agencies, representatives of...
Sep 13 2017 // Sciemus, a specialty Lloyd’s MGA, is forming an investing partnership with HSCM Bermuda, a firm that invests in reinsurance and insurance-linked assets across all lines of business. The deal also calls for Sciemus to...
Sep 13 2017 // Cayman Islands-based CCRIF (formerly the Caribbean Catastrophe Risk Insurance Facility) will make payments totaling US$29.6 million to six Caribbean nations recovering from Hurricane Irma.CCRIF’s parametric tropical...
Sep 13 2017 // Colony Specialty, a member of Argo Group International Holdings Ltd., has appointed Mike York as regional manager of the North Region within its U.S. Casualty Division. York will report to Tim Williams, vice president of...
Sep 11 2017 // Baton Rouge, Louisiana-based workers’ compensation insurance provider, LCTA Workers’ Comp (LCTA), has acquired Risk Management Resources and created a new subsidiary, LCTA Specialty Insurance Co.Risk Management...
Sep 8 2017 // Columbus, Ohio-based State Auto Insurance Group (State Auto) is reviewing options for its excess and surplus (E&S) lines business, including a possible sale, the company said in an announcement.State Auto has a market...
Sep 8 2017 // International insurer HDI Global Insurance Company (HDI) has introduced a new cyber product, Cyber+ Smart, designed to support the manufacturing sector.Cyber+ Smart is designed for U.S. enterprises with annual revenues of...
Sep 7 2017 // Specialty Program Group LLC has acquired the assets of Burbank, Calif.-based wholesaler Monarch E&S Insurance Services.Monarch E&S is a full-service MGA and wholesale brokerage established in 1986. The firm...
Sep 5 2017 // For a second consecutive year, underwriters of surplus lines insurance in the United States generated just modest growth in direct premium of 2.8 percent in 2016, according to a new A.M. Best special report.Surplus lines...
Sep 4 2017 // New York Bus Operators Compensation Trust (NYBOCT), a Bay Shore, N.Y.-based group self-insured trust created by a number of New York passenger bus companies, has filed a complaint against Arthur J. Gallagher & Co.,...
Sep 4 2017 // The wholesale, specialty and surplus lines market is healthy and stable with a bright future.Proof of this can be found in recent quantitative analysis like A.M. Best’s 2017 Special Report on U.S. Surplus Lines, as...
Sep 4 2017 // As long as there is an insurance industry, wholesaler brokers believe they will have a role to play.“We will continue to be an important sector – a small sector – but still a very important sector of how...
Sep 1 2017 // Japan’s Sompo Holdings Inc. announced it has agreed to sell Lloyd’s re/insurer Sompo Canopius AG to a private equity consortium led by Centerbridge Partners for $952 million.On completion of the purchase,...
Aug 31 2017 // Ascot Group Ltd. (AGL) announced the creation of Vertical Underwriting Managers, its first specialty managing general agency (MGA) cell under Ethos Specialty Insurance Services, AGL’s standalone MGAVertical will...
Aug 31 2017 // XL Catlin has added two new enhancements to its professional liability insurance for architects, engineers and other design professionals in the US, including an expanded professional services definition and Principal...
Aug 30 2017 // Beazley has launched a new excess policy for the U.S. market that significantly expands the protection available to firms that fall victim to impersonation scams by fraudsters convincing employees to wire funds to external...
Aug 29 2017 // AXIS Capital Holdings Ltd. announced that shareholders of Novae Group have approved the company’s acquisition by AXIS.Approximately 99.97 percent of shareholder votes were cast in favor of the deal. AXIS announced...
Aug 29 2017 // Lloyd’s of London insurers dropped amid speculation that they will suffer losses from Tropical Storm Harvey that’s battering Houston, the epicenter of the U.S. oil industry.The storm, which which made landfall...
Aug 25 2017 // AXIS Capital Holdings Ltd. has substantially sweetened its offer for Novae Group plc, a Lloyd’s of London specialty insurer and reinsurer.AXIS, a Bermuda-based specialty insurer and reinsurer, said it will now pay...
Aug 23 2017 // Ratings agency, A.M. Best, has assigned a Financial Strength Rating (FSR) of A (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a” to Starr Specialty Insurance Co. (Starr Specialty),...