News

E&S start-up Hamilton Select adds business unit heads

Newly launched E&S carrier Hamilton Select Insurance has confirmed Amwins’ Devon Minarik as head of US small business casualty insurance and hired Logan Kirkland from James River Insurance Company as head of US products liability and contractors insurance.

Zurich NA names IFG’s Lewis as head of new E&S unit

Zurich North America has named former International Financial Group (IFG) president and CEO Christopher Lewis as executive vice president and head of its new, standalone business unit dedicated to the E&S market.

Kinsale confident of continued inflation-beating E&S price rises in 2022

Kinsale Capital Group remains confident that the E&S market will remain favourable throughout the rest of 2022 with further rate rises that remain ahead of loss cost trends even when factoring in the current elevated level of inflation, according to president and CEO Mike Kehoe and chief operating officer Brian Haney.

Paragon lands Borst from Argo to lead E&S and intl drive

Paragon Insurance Holdings has brought in Andy Borst from Argo as president of excess and surplus lines and international programs, Program Manager can reveal.

Lexington adds depth with ex-Swiss Re CorSo E&S property head Pippin

Lexington Insurance Company has strengthened its property team with the hire of Darrell Pippin, Swiss Re Corporate Solutions’ former head of E&S property North America, The Insurer can reveal.

Nationwide E&S has deployed half of Cali wildfire capacity

Nationwide E&S has deployed just over half of the $1bn in capacity it has allocated to write high-net-worth (HNW) wildfire-exposed homeowners coverage in California, and the carrier will in the coming months take a decision on whether to increase its commitment to the space even further, The Insurer can reveal.

RLI property premium up 47% in Q1 as expected E&S competition “hasn’t arrived”

RLI increased its property premium by 47 percent in the first quarter on the back of accelerating price increases and the absence of an expected increase in competition, the insurer’s management commented on an earnings call, while in the casualty segment D&O and transportation competition has returned.

Amwins: Hard market conditions have lasted longer than expected

Despite carriers reporting multiple quarters of improved loss ratios and record earnings, hard market conditions have not abated to the extent expected, with insurers in many cases keeping capacity tight and meaningful rate increases continuing for the time being, according to wholesale intermediary Amwins.

Texas surplus lines premiums sets new monthly record of $970mn in March

The Surplus Lines Stamping Office of Texas (SLTX) recorded $970.2mn in premium for March, the largest single month reported in the office’s 33-year history, ending a quarter in which premiums were up 10.0 percent over the same period of 2021.

Old Republic forms Sabbagh-led E&S insurer

Old Republic International Corporation has formed a new commercial excess and surplus lines (E&S) subsidiary, led by Ralph Sabbagh as president.

New E&S carrier Federated Specialty secures A rating from AM Best

Federated Mutual Insurance Company has launched a new excess and surplus lines (E&S) carrier and the newly minted platform has been assigned a financial strength rating (FSR) of A (Excellent) from AM Best.

Trisura’s new Bricktown E&S carrier secures A- rating

AM Best has assigned a financial strength rating of A- to Bricktown Specialty Insurance Company (BSIC), the Oklahoma City-based E&S carrier launched by Trisura to further enhance the hybrid fronting capabilities of its US operations.

Gallagher acquires surplus lines agency Commercial Insurance Underwriters

Arthur J Gallagher has expanded its surplus lines offering with the purchase of Commercial Insurance Underwriters (CIU).

Ategrity appoints Rosenzweig CFO and names Munich Re’s Schenk CUO

Excess and surplus lines writer Ategrity Specialty Holdings has appointed financial services veteran David Rosenzweig as CFO and named former Munich Re and Hiscox executive Chris Schenk as chief underwriting officer.

ReAlign completes $7.5mn capital raise to fuel growth plans

ReAlign Insurance Holdings’ surplus lines carrier Summit Specialty Insurance Company has completed a $7.5mn capital raise that will support the program-focused platform’s growth plans.

Arcadian to build E&S book through New York platform

Bermuda-based MGA Arcadian Risk Capital is looking to launch its planned New York operation by early Q3, writing on SiriusPoint’s US E&S carrier and targeting accounts in the tier below the large risk-managed business written by its existing Bermuda, Dublin and London teams, The Insurer can reveal.

Texas surplus lines premium up 5.9% in February

The Surplus Lines Stamping Office of Texas (SLTX) recorded $539.6mn in surplus lines premium during February, a 5.9 percent increase over February 2021, with the level of increase far below the 12.6 percent year-over-year increase recorded in January.

PURE Programs’ Galante: E&S reciprocal exchange to provide important new capacity

The E&S platform unveiled by PURE Insurance’s parent company Privilege Underwriters last week will provide “important, more stable” solutions for members of the high-net-worth (HNW) specialist with challenging exposures by introducing its own new offerings and supporting existing program partners as a quota share reinsurer, The Insurer can reveal.

Hamilton Select aims to have 12 E&S UW divisions in place by year-end

Hamilton Select Insurance is actively recruiting senior underwriters to build its platform to 12 underwriting divisions by year-end as it targets hard-to-place and distressed accounts in the small to middle market space, according to the newly formed E&S carrier’s CEO Clay Rhoades.

E&S insurtech Pathpoint launches restaurant offering

Pathpoint, an E&S technology platform, has launched a restaurant offering that gives agents access to non-admitted coverage solutions for restaurant owners.