Reinsurance News
excess & surplus lines
US Surplus Lines premiums rise to record $82bn in 2021, despite challenges: AM Best
7th September 2022
A new report from AM Best highlights that total US surplus lines direct premiums written rose to a record $82 billion-plus in 2021, with the largest year-over-year premium growth since 2003. This increase comes as AM Best notes that from the first quarter of 2020 , through mid-2022, US P&C companies ... Read the full article
Surplus lines premiums continue upward trend in H1 2022: WSIA
25th July 2022
Surplus lines premiums exceeded $31 billion, and premium bearing transactions neared 2.8 million in the first six months of the year, according to the 2022 mid-year report of the US Surplus Line Service and Stamping Offices. Premium increased 32.4% compared to the same period last year, transactions were also up 9.4% ... Read the full article
Convex launches US E&S focused MGU with professional liability hires
21st July 2022
Specialty insurance and reinsurance company Convex has launched a new managing general underwriter (MGU) focused on the insurance market in the United States. Convex US has been launched as an MGU that will have a focus on excess and surplus (E&S) lines business. The MGU, Convex US, will source primary E&S insurance ... Read the full article
Hamilton Select Insurance makes two underwriting appointments
20th July 2022
Bermuda-headquartered, Hamilton Insurance Group, Ltd., has announced two appointments for its newly launched US excess and surplus (E&S) insurer – Hamilton Select Insurance Inc. Ashly Turner will lead the firms US Energy Insurance, and Steve Blackwell will lead US Life Sciences Insurance. Throughout the last year, Hamilton has established and quickly grown ... Read the full article
Hamilton appoints Rhoades to lead new US E&S insurer
11th February 2022
Hamilton Select Insurance Inc. has launched, a new U.S. excess and surplus (E&S) lines insurance carrier formed by Bermuda-based insurer and reinsurer, Hamilton Insurance Group, Ltd., and which has received a Financial Strength Rating of A- (Excellent) from AM Best. Alongside the launch, Hamilton has announced that its former President of ... Read the full article
Trisura launches E&S Insurance Carrier
19th January 2022
The US subsidiary of International specialty insurance holding company Trisura Group has launched Bricktown Specialty Insurance Company, its new E&S Insurance Carrier to further expand the company’s footprint within the insurance industry. This new carrier will allow its current clients to expand, whilst bringing in new clients who will not have ... Read the full article
Trean’s Benchmark forms new excess and surplus lines subsidiary
29th December 2021
Benchmark Insurance Company, a writer of program business and subsidiary of Trean Insurance Group, has formed a new excess and surplus (E&S) lines subsidiary, Benchmark Specialty Insurance Company. Benchmark Specialty is an Arkansas domestic surplus lines carrier and appears destined to become the main E&S carrier for the Trean group of ... Read the full article
Surplus lines market to remain tight into 2022: AM Best
21st September 2021
AM Best is expecting that surplus lines market conditions will remain tight for the remainder of 2021 and into 2022 due to the ongoing impact of COVID-19, which, combined with outsized property catastrophe losses, has provided an opportunity for the sector to demonstrate its resilience. Although the surplus lines segment fared ... Read the full article
E&S outlook improves to stable: AM Best
5th March 2021
AM Best has revised its outlook for the US excess and surplus (E&S) lines market segment from negative to stable, due to its ongoing profitability and premium growth. The rating agency acknowledged that the E&S market still faces uncertainty due to the impact of COVID-19 on the US and global economies, ... Read the full article
E&S digital wholesale platform Pathpoint launches
8th October 2020
Pathpoint, a San Francisco-based Excess & Surplus digital wholesale distributor, has announced its launch. The company has been built to connect retail agents and E&S carriers through its proprietary platform built to quote and bind Excess & Surplus lines coverage. With efficiencies gained from the technology, Pathpoint claims to distribute its products ... Read the full article
HIIG launches E&S brokerage business unit
2nd September 2020
International specialty insurance group, Houston International Insurance Group has announced that it has launched an E&S Brokerage business unit to provide liability and property solutions to the wholesale brokerage market. Mark Boland will be leading the unit with support from a team of underwriters. Boland previously held roles as President, E&S at ... Read the full article
Enstar announces $610mn StarStone US recapitalisation
11th June 2020
Enstar Group Limited has agreed to a $610 million recapitalisation of StarStone U.S. Holdings, Inc. led by SkyKnight, Dragoneer, and Aquiline, as the company repositions towards specialty excess & surplus (E&S) growth. Investors SkyKnight Capital, L.P., Dragoneer Investment Group and Aquiline Capital Partners LLC have committed $610 million in fresh equity ... Read the full article
Growth momentum in U.S. E&S market to continue in 2020: Conning
3rd March 2020
A recent study by Conning's states that on the back of U.S. excess and surplus (E&S) market growth which commenced in 2018 and gained momentum in 2019, further expansion is expected in the year ahead. According to the new study, the surplus lines market in the U.S. is booming, with E&S ... Read the full article
Chaucer gets regulatory nod to write US excess and surplus lines
9th January 2020
Chaucer, the international specialty re/insurance group, has received regulatory confirmation to write excess and surplus lines business across the US. The National Association of Insurance Commissioners (NAIC) confirmed that Chaucer is now authorised to write this business through its Ireland domiciled subsidiary, Chaucer Insurance Company DAC. Chaucer has also been added to ... Read the full article
Munich Re Specialty Insurance names Head of Property for E&S
4th December 2019
Munich Re Specialty Insurance, the global reinsurer’s specialty property and casualty (P&C) insurance unit in North America, has announced the appointment of Jim Wallace as Head of Property for Excess & Surplus (E&S) Lines. Wallace joins Munich Re from Navigators, where he most recently served as President of the Property Excess ... Read the full article
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