Reinsurance News
E&S
Verisk’s Whitespace re/insurance platform launches in the US
4th October 2024
Verisk, a global data analytics and technology provider, has announced the US launch of its re/insurance platform Whitespace. Whitespace is an all-in-one intuitive platform which enables brokers, underwriters and managing general agents (MGAs) to offer, negotiate and place business in the global re/insurance market. It was created with the intention of catering ... Read the full article
Prime Insurance introduces TRU Solution for reliable crisis coverage
4th October 2024
Prime Insurance Company, an excess and surplus lines carrier, has introduced the TRU Solution, offering clear and reliable coverage during times of crisis. The TRU Solution was developed in response to policyholders' need for a trustworthy insurance partner that provides comprehensive, straightforward coverage, particularly in the wake of recent storms and ... Read the full article
FCCI expands offerings with new specialty company for E&S Lines
2nd October 2024
FCCI Insurance Group has introduced FCCI Specialty Insurance Company, now offering Excess and Surplus (E&S) lines coverage. This marks an important expansion of FCCI’s services, providing innovative coverage solutions for businesses across various industries, particularly those with hard-to-place commercial risks. Initially, agents in Florida, Georgia, and Texas can submit General Liability (GL) ... Read the full article
E&S lines see growth amid admitted market exit or pullback: Triple-I
24th September 2024
Excess and Surplus lines (E&S) have experienced remarkable growth for five straight years by double-digit percentage rates, mainly due to admitted markets pulling back or exiting markets, according to a recent Triple-I report. Analysts noted that solid underwriting results continue to drive operating profitability due to emerging new risks and declining ... Read the full article
New property facility launched by WTW, Canopius and Verita
3rd September 2024
Global insurance broker WTW has launched a new property facility, Client Edge Facility, with specialty re/insurer Canopius. This exclusive property option, now available in the market, was developed by WTW Corporate Risk and Broking, North America (CRB NA), Canopius US Insurance, Inc., and Verita Capital Solutions. The new facility will be led ... Read the full article
Florida’s surplus lines market hits $1.6bn in July
13th August 2024
The surplus lines market in the state of Florida, US, yielded $1.6 billion in premiums for the month of July, marking a 21% increase compared to July 2023, according to the Florida Surplus Lines Service Office. In its most recent FL Premium Report, the Office also reported that the number of ... Read the full article
E&S property market remains positive in Q2’24: CRC
22nd July 2024
The latest edition of the REDY Index by CRC Group reveals that Q2 2024 continues the positive trends in the E&S property market observed over the past two quarters. These developments suggest a turnaround from the challenging market conditions witnessed in Q2’23. According to CRC Group, E&S property carriers now have increased ... Read the full article
SiriusPoint and Tara Hill form strategic E&S portfolio partnership
2nd July 2024
SiriusPoint, a global specialty re/insurer, and Tara Hill Insurance Services, a newly launched Excess and Surplus (E&S) program administrator, have formed a strategic partnership. As part of the Cirrata Group, Tara Hill was established to develop an E&S portfolio focusing on private Management Liability and Miscellaneous Professional Liability coverages for ... Read the full article
Ambac launches Tara Hill for E&S liability coverage, led by Peter McKeegan
24th June 2024
Ambac Financial Group (Ambac) has partnered with former Core Specialty Senior Vice President Peter McKeegan to launch a new program administrator, Tara Hill Insurance Services. McKeegan will serve as Tara Hill’s Chief Executive Officer, reporting directly to Naveen Anand, President of Cirrata Group, Ambac’s distribution division. As part of the Cirrata Group, ... Read the full article
AIG’s CEO sees substantial growth opportunities in the E&S market
3rd June 2024
AIG's Chairman and CEO, Peter Zaffino, highlighted the company's strategic focus on the rapidly expanding Excess & Surplus (E&S) insurance market, which he sees as a significant avenue for growth. Zaffino emphasised the remarkable growth trajectory of the E&S market, which has surged from $34 billion in 2003-2004 to an impressive ... Read the full article
Intact launches Striior Insurance Solutions, names Kaileigh Bowe as President
9th January 2024
Intact Insurance Specialty Solutions, the U.S. insurance subsidiary of Intact Financial Corporation, has launched a fresh identity for its Excess and Surplus (E&S) builders risk segment – Striior Insurance Solutions. Formerly known as Highland Insurance Solutions, the change aims to signify the robust foundation, team expertise, and ambitious objectives of the ... Read the full article
AM Best turns positive on E&S lines insurance segment
6th November 2023
AM Best has revised its outlook on the excess and surplus (E&S) lines insurance segment to positive from stable, citing increased business due to declining capacity in commercial lines and some personal lines markets. The rating agency also referenced strong underwriting results, which are driving favourable operating profitability and strengthened capital ... Read the full article
Skyward Specialty expands healthcare coverages, adds new solution for E&S providers
19th September 2023
Skyward Specialty Insurance Group, Inc. is set to expand its coverages in the healthcare sector, by adding a new solution that will cater to the needs of E&S individual providers, including physicians. As the healthcare landscape continues to present a variety of new challenges and opportunities for healthcare professionals, especially for ... Read the full article
Everest Insurance establishes dedicated US Wholesale and Programs Division
18th September 2023
Everest Insurance, the insurance division of Everest Group, has launched a dedicated US Wholesale and Programs Division to serve the distinct and evolving needs of this market. According to the announcement, the Division comprises specialised wholesale segments, underwriters, and distribution teams, including Everest Underwriting Partners, the company’s programs business. Everest Group is ... Read the full article
Munich Re Specialty expands its E&S Lawyers Professional Liability solution
11th April 2023
Munich Re Specialty Insurance (MRSI) has expanded its E&S Lawyers Professional Liability (LPL) solution to include primary and excess coverage for firms with 11 or more attorneys, as well as firms with an Intellectual Property practice. Marcia Blanco, Head of Financial Lines, Excess & Surplus Underwriting, MRSI, commented, “More than half ... Read the full article
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