Reinsurance News
excess & surplus lines
FCCI partners with Cognizant to expand into E&S market and modernise operations
25th October 2024
Through a partnership with Cognizant, FCCI Insurance Group (FCCI) has launched a new Excess & Surplus (E&S) line of business, marking a significant milestone in its modernisation journey. This collaboration utilises Cognizant's expertise in the insurance industry and Duck Creek Policy with Active Delivery to modernise FCCI's operations and expand into ... 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
PartnerRe to provide capacity for the launch of Banyan Excess Liability
18th July 2024
Banyan Risk, a Bermuda-based specialist multi-line Managing General Agent (MGA), has announced a long-term strategic partnership with global reinsurer PartnerRe to write Excess Casualty Insurance. This collaboration, subject to approval by the Bermuda Monetary Authority (BMA), will see PartnerRe provide capacity and shareholder support for the launch of a new subsidiary ... Read the full article
E&S startup Dellwood Specialty gets AM Best rating
25th June 2024
AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Dellwood Specialty, a startup excess and surplus (E&S) lines insurance company targeting small- and medium-size enterprise risks exclusively through wholesale brokers and program administrators. The outlook assigned to these ... Read the full article
Incline gets new E&S insurer rated by AM Best
26th March 2024
Global credit rating agency AM Best has assigned a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent) to Incline's new Excess and Surplus (E&S) insurer, Incline Americas Insurance Company (Incline Americas). The outlook assigned to these Credit Ratings (ratings) is stable. At 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
Slice expands to 9 US states with small business insurance
25th July 2023
Slice Labs Inc., a provider of on-demand digital insurance products to protect small businesses, has announced its expansion to nine additional US states. Slice’s Excess & Surplus (E&S) specialty market small business insurance product is now live through agents in Alabama, Arizona, Maine, Michigan, North Carolina, Oklahoma, Virginia, Vermont, and Wisconsin ... Read the full article
RSA Insurance launches Excess of Loss product
18th July 2023
RSA Insurance has announced that it is to expand its Professional Indemnity offering and launch an Excess of Loss (XOL) product. RSA suggested that the XOL product, which is now available to brokers and commercial lines customers throughout the UK via its Regions business, is aimed at a range of businesses ... Read the full article
E&S insurance market will continue to be a standout: Patrick Ryan
28th March 2023
Patrick G. Ryan, Founder, Chairman and CEO of international specialty insurer Ryan Specialty, has asserted that excess and surplus (E&S) lines will “continue to be a standout within the insurance industry” over the coming year. Writing in an introduction to the company’s annual report, Ryan commented on its performance over the ... Read the full article
Hurricane Ian to have immediate impact on E&S property market: CRC
10th November 2022
Hurricane Ian is expected to have an “immediate and substantial” impact on the excess and surplus (E&S) lines property market, according to the latest edition of the REDY Index by CRC Group. The Index shows that the property catastrophe market had already been tightening prior to Hurricane Ian’s landfall, but that ... Read the full article
Texas surplus lines premium up 31% through September: SLTX
1st November 2022
Texas surplus lines premium increased by 31.2% to $918 million during the month of September, when compared to the same period last year, according to figures from the Surplus Lines Stamping Office of Texas (SLTX). This brings the year to date premium total to $8.7 billion, which represents a 26.8% increase ... Read the full article
Texas surplus lines premium up 26% in 2022 so far: SLTX
7th October 2022
Texas surplus lines premium has been recorded at $7.81 billion year-to-date as at the end of August, according to figures from the Surplus Lines Stamping Office of Texas (SLTX), representing an increase of 26.3% over last year’s total for the same period. SLTX recorded $1.12 billion of premium in August, which ... Read the full article
Richmond National names Ashlee Randall Chief Underwriting Officer
21st September 2022
Richmond National Group - the holding company for Richmond National Insurance Company, a specialty excess and surplus (E&S) lines insurance company - has appointed Ashlee Randall as Chief Underwriting Officer. Randall joins the firm with a strong track record across a broad range of E&S lines insurance underwriting as well as ... Read the full article
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