Maloney bullish on E&S opportunity on back of Lancashire’s “best ever year” in 2023Lancashire CEO Alex Maloney hailed 2023 as the best result in the company’s history on a risk-adjusted basis as he highlighted the group’s new E&S platform as among its key opportunities for 2024.
Taking the temperature of the E&S market...In the days leading up to an annual physical, it might be a natural reaction to temper the alcohol intake, cut back the fatty foods and step up the exercise routine.
Nationwide’s Johnston: Casualty fears warranted amid legal system abuseSuccessful insurers will be those that focus on specialisation and can help mitigate losses for insureds in an evolving risk environment that includes pervasive threats such as legal system abuse, according to Nationwide’s Russ Johnston.
Transformation: navigating change and reaping the benefitsIn this first instalment of a two-part interview with OIP president and CEO Martina Seferovic, we learn how to confront and successfully address concerns about transformation to facilitate much-needed further modernisation in the E&S sector.
Executives bullish about continued E&S momentumComments from US insurance leaders during February show that they remain bullish about the prospects for the E&S market.
Amwins acquires wholesale business Connected Risk Solutions from BRP GroupAmwins has agreed a deal to buy Connected Risk Solutions, the wholesale E&S insurance brokerage operated by New York-listed insurance distribution firm BRP Group, in a deal that will generate net cash proceeds of around $59mn for the seller.
WR Berkley expects 10-15% growth in 2024 as E&S momentum continuesThe CEO of WR Berkley has suggested his company could accelerate growth to 10-15 percent in 2024 as a result of “great opportunity” in the excess and surplus lines market, despite taking a more defensive posture in some areas such as D&O and workers’ compensation.
Munich Re shuffles E&S property management structureMunich Re Specialty Insurance has shuffled its regional E&S property management structure, with Vanessa Sullivan set to lead its operations on the west coast and southeast and Joe Bonanno joining the platform to oversee the Midwest and northeast.
Pathpoint launches new manufacturing vertical for home-based businessesPathpoint has introduced a new small commercial manufacturing vertical catering to home-based businesses in a move which grants retail agents access to E&S general liability coverage for over 450 products.
Skyward in narrow Q4 earnings beat as CR improves 170bps to 90.7%Skyward Specialty Insurance Group eked out a narrow Q4 2023 earnings beat as its combined ratio improved 1.7 points to 90.7 percent on the back of lower catastrophe and non-catastrophe loss ratios.
Vantage now offering DiMarco-led surplus lines US primary casualty coverVantage Group has added to its product suite with the carrier now offering US primary casualty coverage on a surplus lines basis to complement its existing Bermuda and US excess offerings.
Stamping office surplus lines premium volume hits record high of $73bn in 2023Surplus lines premium tracked by the US Surplus Lines Service and Stamping Offices reached another record high in 2023 after it increased 14.6 percent year on year in 2023 to hit $72.7bn.
DUAEs and surplus lines: Clear winners in the hard marketDavid Blades, associate director, industry research and analytics at AM Best, examines the relationship between the rapidly growing DUAE and E&S markets…
Upland adds Indigo and Validus staff to spearhead PL E&O and excess cyber movesUpland Capital Group has hired a Kate Walas-led team from Indigo Specialty Underwriters to spearhead the E&S carrier’s entry into the professional liability E&O sector and also recruited a pair of Validus Specialty staff to lead its push into the excess cyber liability segment.
Axa XL promotes Johnson to head of E&S general liability for the AmericasAxa XL has promoted Laura Johnson, formerly the head of E&S primary casualty, to head of E&S general liability for the Americas.
Longevity prevails in the E&S specialty marketAllied World’s president for North America casualty Joseph Cellura examines the unique opportunities in the rapidly growing E&S market…
Texas surplus lines premium increases 2% in January to $1.1bnSurplus lines premium tracked by Texas’ stamping office increased 1.9 percent year on year to $1.1bn in January, with the largest growth recorded within the state’s commercial fire and allied lines class.
CRC hires Markel’s Colosimo in NYC to build casualty bookCRC Group has drafted in Vince Colosimo from Markel as an executive vice president in its New York City office to build a book of casualty business with a focus on construction, The Insurer can reveal.
Lancashire’s launch into US E&S well-timed: JefferiesConsensus-beating results posted by early US reporters such as Travelers and Chubb mark a positive read-across for London-listed Lancashire, which is launching a new North American E&S platform this year, according to Jefferies analysts.
Aurenity secures Vantage Risk E&S capacity for public entity launchTech-enabled E&S MGA Aurenity has launched an excess public entity offering with backing from specialty carrier Vantage Risk, with the new program expected to begin writing business with a 1 April effective date, The Insurer can reveal.