News

AmTrust E&S launches excess casualty unit led by Everest’s Lynn

AmTrust E&S Insurance Services has announced an excess casualty underwriting division led by Jeff Lynn, who joins from Everest Re.

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.

Lexington’s Western World to launch new small commercial brokerage offering

Lexington Insurance’s SME division, Western World, is launching a new small commercial brokerage product underwritten by a team led by former Nationwide E&S executive Penny Herron, The Insurer can reveal.

E&S pricing momentum to carry into 2020: QBE’s DiBattista

E&S underwriters are heading to San Diego this weekend for the annual marketplace of the Wholesale & Specialty Insurance Association. The mood at the meeting is likely to be upbeat, if this publication’s conversation with Jude DiBattista, head of E&S property casualty at QBE North America, is anything to go by.

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

Surplus lines premium grew 11.2% in 2018

The acceleration of business flowing into the surplus lines market that has been widely acknowledged this year came after the segment had already grown by 11.2 percent in 2018, up from just under 6 percent in 2017, according to data from AM Best.

WSS buys California MGA and E&S broker K&C

XPT-owned Western Security Surplus (WSS) has acquired Santa Ana, California-based managing general agent and surplus lines broker Klein & Costa Insurance Services (K&C).

Small account E&S sector seeing 5-6% rate increases

The rate increases of 1-2 percent in the small account E&S sector earlier this year are accelerating, with pullbacks from Lloyd’s, Lexington and Ironshore increasingly being felt, according to AmWINS.

No automatic renewals in E&S casualty anymore: AmWINS

The E&S casualty hardening in the second quarter has deepened moving into Q3, with capacity reducing in both primary and excess layers in all areas, according to AmWINS’ state of the market report.

Hardening market drives US surplus lines premium up 12.7% in H1

The Surplus Lines Stamping Office of Texas (SLTX) has revealed that US surplus lines premium increased 12.7 percent in the first half of this year over the same period last year, based on growth reported by the 15 E&S stamping/service offices.

AIG/FM Global impact on E&S property rates bigger than thought

The restructuring at AIG and FM Global has led to a quicker and more severe hardening in the US E&S property market than was expected early in 2019, with parts of the market changing weekly, wholesale broker AmWINS has revealed.

Mid-year Texas surplus lines premium surges 13.4% as monthly records fall

There was further evidence of the buoyant US excess and surplus lines (E&S) market this week from Texas with the state reporting that premium had jumped 13.4 percent at the half-year stage to $3.48bn.

Duperreault lauds robust E&S sector in “tightening” market

AIG CEO Brian Duperreault has praised the discipline of the excess and surplus lines (E&S) market as it has responded to business flowing back from admitted carriers by pushing up rate and driving improved terms and conditions.

Swiss Re Corporate Solutions exits E&S general liability

Swiss Re Corporate Solutions has pulled out of E&S primary and excess US general liability business, The Insurer can reveal.

Westaim Q1 profits leap as it prepares to exit Stephen Way’s HIIG

Canadian holding company Westaim Corp pointed to the “improved pricing” in the US specialty markets enjoyed by HIIG, the insurer that is expected to shortly have a new backer.

Ritz exits as Western World comes under Lexington structure

Former Western World CEO Jonathan Ritz is leaving the specialty carrier as it is realigned to become part of AIG’s Lexington Insurance E&S platform, The Insurer can reveal.

Premium volume surges in domestic US surplus lines market

The domestic non-admitted market is seeing a strong surge in business as Lloyd’s and certain US carriers led by AIG retrench from loss-struck lines.

Munich Re Specialty Insurance adds Edelstein as COO

Munich Re has named former Hiscox executive Adam Edelstein as COO of its new specialty insurance platform.

Buffer opportunities return to hardening E&S property market

A hardening US excess and surplus lines (E&S) property market where rates on even clean cat-exposed accounts are up 10 percent is seeing the return of opportunities for writers of buffer layers in programmes, The Insurer has learned.