The US excess and surplus market (E&S) market continues to grow at a robust rate; however, the yearly pace of growth has slowed, according to an analysis by S&P Global Market Intelligence.
Tag: E&S market
Host of Florida Property Insurance Regulatory Changes Kicking In
Surplus lines carriers can start taking out secondary home policies from Citizens Property Insurance Corp. on July 1, under a bill signed by Florida Gov. Ron DeSantis.
Chubb CEO: Competition, Regulation Constrain Financial and E&S Lines
Chubb Ltd. sees strong underwriting conditions everywhere but financial lines and certain excess and surplus lines, where competition and regulatory restraints are a burden, said its chief executive officer.
AM Best Revises Outlook on E&S Insurance Segment to Positive
AM Best is revising 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, along with strong underwriting results driving favorable operating profitability and strengthened capital positions.
Canopius Strengthens U.S. Casualty Portfolio with Expansion into Excess Casualty Market
Canopius Group, a leading global specialty (re)insurer, announced today the strategic expansion of its U.S. Casualty business with its entry into the domestic U.S. Excess Casualty market on Canopius U.S. Insurance Company paper.
WSIA: Surplus Lines Premium Continues Upward Trend During 1H 2023
Surplus lines premium reached nearly $36 billion, and premium bearing transactions neared 2.9 million through the first six months of 2023, according to the 2023 Midyear Report of the U.S. Surplus Lines Service and Stamping Offices.
The State of the Wholesale Market
The wholesale insurance and E&S markets are growing because more customers, competition, and new technologies make business easier.
E&S Premiums Account for Larger Share of U.S. P&C Market
Premium dollars continue to flow into the U.S. excess and surplus market, which accounted for 8.7% of the country’s total P&C industry during the first half of 2022.
Applied Underwriters Acquires Catlin Specialty Insurance Company
Applied Underwriters has announced that it will acquire Catlin Specialty Insurance Company (‘A+’ rated) from the AXA XL group of companies, consolidating the company into the North American Casualty group of companies (‘A’ rated) in a move intended to bolster Applied’s operating capabilities in support of its strategic partners as the E&S market hardens. The… Continue reading Applied Underwriters Acquires Catlin Specialty Insurance Company
Westfield Specialty Acquires Renewal Rights to Argo Group’s U.S. Property Business
Westfield Specialty, a subsidiary of Westfield Insurance, today announced an agreement to acquire the renewal rights of Argo Group’s US Property, Shared and Layered property business. “This renewal rights transaction is a significant step in our E&S property launch and commitment to the wholesale property marketplace,” said Jack Kuhn, president of Westfield Specialty. “We are… Continue reading Westfield Specialty Acquires Renewal Rights to Argo Group’s U.S. Property Business