Commercial insurance

Lloyd’s capacity scarce for US property risks: CRC

Wholesale broker CRC has reported that little capacity is left among Lloyd’s syndicates for US property, while domestic markets are being more selective overall with an intensifying focus on valuations.

Willis looks to add non-admitted capacity to DBS panels

Willis Towers Watson North America is considering building an excess and surplus lines (E&S) component to the carrier panels it has been launching as part of its Differentiated Broking Solutions (DBS) strategy, The Insurer can reveal.

Hallmark looks to capitalise on E&S tailwinds after Q3 growth

Hallmark Financial Services reported its gross written premiums increased 33 percent in the third quarter, as the US specialty insurer benefited from the big rate increases being seen on E&S business.

Lexington submissions soar in Q3, despite slashing limits

AIG General Insurance CEO Peter Zaffino has hailed the strong turnaround at E&S unit Lexington while revealing details of the accelerating price increases the insurance giant is obtaining.

Beauregard takes helm at expansive Zurich Wholesale & Surplus unit

Ron Beauregard has replaced Andy Swenson as head of Zurich Wholesale & Surplus (ZWS) as the insurer continues its growth strategy in the hardening E&S market, The Insurer can reveal.

US habitational casualty rates surge after carrier exits

Rates for habitational coverage for insureds with worse-than-average loss records are at least 30 percent to 50 percent higher for general liability and sometimes doubling on excess layers, according to wholesale broker CRC.

Texas surplus lines premium surges 16% in first nine months

The Surplus Lines Stamping Office of Texas (SLTX) has recorded $5.35bn in surplus lines premium in the state through the first three quarters of 2019 – a 16.2 percent increase over the same period in 2018.

E&S poised for further growth after 15% H1 expansion: Fitch

A new report from Fitch provides further evidence of the buoyant US excess and surplus lines (E&S) market, with accelerating top line growth of 15 percent in the first half of the year.

Zurich exits US railroad liability classes

Zurich North America’s E&S carrier Steadfast Insurance Company has pulled out of casualty segments of the US railroad insurance market, including force liability and railroad liability, The Insurer can reveal.

Rheel joins Munich Re’s NA specialty insurance drive

Former Aspen US insurance president Bob Rheel has joined Munich Re’s new specialty insurance platform as the carrier continues to build out its platform in a buoyant E&S marketplace, The Insurer can reveal.

Surplus lines carriers challenged by submission flow from brokers

The deluge of submissions into the E&S market is forcing some surplus lines carriers to cut back on the wholesale brokers they use, while a number of intermediaries report unease about dealing with Lloyd’s, according to AM Best.

AIG returned to surplus lines growth last year following Validus acquisition