Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Excess Insurer Pays Before Municipal Pool in Boy’s Beach Death, New Jersey High Court Rules
Feb 17 2023 // AmeriTrust subsidiary Star Insurance Co. must pay the $9 million balance of a $10 million settlement in the death of a 12-year old boy who died after a trench he dug on a Long Branch, New Jersey beach collapsed on...
RiverStone Int’l Secures Excess-of-Loss Reinsurance to Support Growth at Lloyd’s
Feb 17 2023 // RiverStone International, the largest provider of legacy solutions in the Lloyd’s market, announced it has secured an innovative multi-year excess-of-loss corporate member reinsurance cover. The reinsurance has been...
RiverStone Completes Reinsurance-to-Close with MS Amlin, Largest in Lloyd’s History
Feb 15 2023 // RiverStone International, a leading acquirer and reinsurer of legacy and discontinued insurance business, has completed an agreement with MS Amlin Underwriting Ltd. to provide MS Amlin Syndicate 2001 with a...
Caribbean Risk Group Launches in London, Partners With Lloyd’s Broker Ramon Int’l
Feb 15 2023 // Caribbean Risk Group LLC. (CRG), the U.S. Virgin Islands-based insurance agency, announced the launch of its London operations, CRG International Ltd. The brokerage in London will act as an appointed representative of...
Nationwide E&S Strikes Out in Move for $1.4M Contribution to Injury Settlement
Feb 13 2023 // Nationwide E&S/Specialty is not entitled to be reimbursed by Mt. Hawley Insurance and Lloyd’s for part of a $2.725 million payment it contributed as the excess/surplus insurer to settle a personal injury suit. A...
Specialty MGA UK Acquires Commercial ForestRe Team from Globe Underwriting
Feb 9 2023 // Specialty MGA UK, a recently formed managing general agent focused on providing additional capacity for specialty lines of businesses, has acquired the ForestRe team from Globe Underwriting, the UK-based MGA. Financial...
Markets/Coverages: Ryan Specialty Forms Transactional Risk Practice; Corvus Launches ‘All-in-One’ UW Platform
Feb 9 2023 // Ryan Specialty announced the formation of a global transactional risk practice, Ryan Transactional Risk. This global managing general underwriting practice is being created by combining the operations of Concord Specialty...
Lloyd’s Names Former Ascot CEO Brooks as Deputy Chair of Council
Feb 9 2023 // Lloyd’s of London announced that Andrew Brooks has been appointed as deputy chair of the Council of Lloyd’s. Brooks recently stepped down as chief executive officer of Ascot Underwriting Ltd. – a position he...
People Moves: Connecticut Department Names Callanan as General Counsel; Hanover Appoints Williams E&S President
Feb 6 2023 // Connecticut Insurance Department Names Callanan as General Counsel Connecticut Insurance Commissioner Andrew N. Mais has named Jane Callanan, of Wallingford, his department’s new general counsel. Before taking on...
Westfield Completes Acquisition of Lloyd’s of London Syndicate 1200
Feb 3 2023 // Westfield has completed the acquisition of Lloyd’s of London Syndicate 1200 from Argo Group International Holdings Ltd. for about $125 million. The deal was first announced in September 2022. Westfield said this...
People Moves: AGCS Taps Chaucer’s Graham for Marine Team; BHSI Names De Wilde Head of Property, Switzerland; HDI Global Specialty Promotes Spafford in Canada Branch
Feb 2 2023 // This edition of International People Moves details appointments at Allianz Global Corporate & Specialty (AGCS); Berkshire Hathaway Specialty Insurance (BHSI), and HDI Global Specialty. A summary of these new hires...
People Moves: Danish Insurer Tryg Names Brammer as CEO, Succeeding Hübbe; AXA XL Appoints Cerquenich as Senior Risk Consultant, Marine, UK & Lloyd’s
Feb 1 2023 // Danish Insurer Tryg Names Brammer as CEO, Succeeding Hübbe The Supervisory Boards of Tryg A/S and Tryg Forsikring A/S announced that Group Chief Executive Officer (CEO) Morten Hübbe has decided to step down. Hübbe (51)...
Lloyd’s to Pay Some Staff £1,500 in Latest Cost-of-Living Aid
Feb 1 2023 // Lloyd’s of London will hand some staff an extra £1,500 ($1,850) to cover rising living costs as inflation persists into 2023. The insurance exchange told staff Tuesday that those earning less than £75,000 would...
Markets/Coverages: WTW Launches Cyber Facility, Providing Excess Capacity Globally
Jan 30 2023 // A new excess layer cyber facility, called CyXS, was launched by WTW, providing excess layer cyber capacity for global clients. Key elements of the facility include: Capacity: Access to up to 50 million (USD/ GBP/ EUR) of...
Specialty Program Group Buys Euclid Fiduciary
Jan 11 2023 // New Jersey-headquartered Specialty Program Group LLC (SPG) has acquired the assets of Euclid Specialty Managers, LLC, which does business as Euclid Fiduciary, from Euclid Insurance Services, Inc. Euclid Fiduciary, based in...
Ardonagh Specialty Joins Global Broking Network, Brokerslink
Jan 10 2023 // Brokerslink has added Ardonagh Specialty to its international network. Three businesses within Ardonagh Specialty – Ed Broking, Ed Bermuda and Piiq Risk Partners – are existing Brokerslink partners, and remain in the...
People Moves: AXA XL Promotes Coxall to Head of U/W Mgmt, UK & Lloyd’s; LSM Hires BNP’s Faulkner to Lead Digital Strategy in Europe; MS Amlin Beefs Up U/W Team
Jan 9 2023 // This edition of International People Moves details appointments at AXA XL, Liberty Specialty Markets (LSM) and MS Amlin. A summary of these new hires follows here. AXA XL Promotes Coxall to Head of Underwriting Mgmt, UK...
Skyward Specialty Announces Launch of IPO
Jan 5 2023 // Skyward Specialty Insurance Group, Inc. (“Skyward Specialty” or the “Company”) announced Jan. 4 the launch of its initial public offering of its common stock. The offering consists of 4,750,000...
Insurance Rates to Stay Flat for Shipments of Ukraine Grain: Lloyd’s Insurer Ascot
Dec 22 2022 // A cargo insurance facility providing cover for shipments via Ukraine’s grain export corridor will continue next year with no rate increases, an underwriter with Lloyd’s of London insurer Ascot said on...
Sompo Int’l Completes Sale of Lloyd’s Run-off Business to Legacy Specialist RiverStone
Dec 20 2022 // Sompo International, the Bermuda-based provider of commercial and consumer property and casualty re/insurance, announced that it has completed the transfer of its Endurance at Lloyd’s (EAL) run-off business to...
