Excess casualty

Axa XL unveils double hire to E&S excess casualty team

Axa XL has expanded its E&S excess casualty team with the additions of Ying Yin Zhong and Zachery Gentile.

Aurenity hires Beaver from HCC for excess casualty launch

Tech-enabled E&S MGA start-up Aurenity is lining up capacity for its launch into excess casualty after securing the services of senior underwriting executive Janet Beaver from Tokio Marine HCC, The Insurer can reveal.

Vantage hires SynchronoSure’s Seib as US excess casualty head

Vantage Group Holdings has hired Lorraine Seib from SynchronoSure as head of its US excess casualty insurance business, an appointment that follows the Bermudian (re)insurer losing a team of excess casualty executives to Westfield Specialty last year.

RPS: Umbrella/excess market more competitive at year-end than anticipated

The umbrella and excess market was more competitive at the end of the fourth quarter than Risk Placement Services had anticipated it would be, as new capacity offered rate reductions across the market.

Starr on excess construction recruitment drive as Poliafico comes in after recent exits

Starr Insurance Companies is actively recruiting for excess construction underwriters across several cities in the US under the unit’s newly appointed profit center manager Brian Poliafico.

Kalepa MGA to roll out excess casualty offering leveraging Copilot software

The new Connie Germano-led MGA from commercial insurance software provider Kalepa is preparing to launch an excess casualty offering, with other products to follow that will combine the firm’s Copilot technology with top underwriting talent in a bid to deliver superior results, The Insurer can reveal.

Axis Insurance adds Gen Re’s Hosp as US excess casualty VP

Axis Insurance has appointed Kenneth Hosp as vice president within its US excess casualty team.

Joyn rolls out excess coverage and expands property offering

SME-focused US insurtech Joyn Insurance has expanded E&S coverage to a total of 28 states plus Washington DC, adding excess lines of business in 21 states and DC and property lines in seven states.

CRC: Cyber leads September acceleration in REDY pricing indexes

The latest monthly REDY indexes from US wholesale giant CRC Group reveal September rate increases averaging 48.7 percent in cyber, 16.2 percent in excess/umbrella, and 12.9 percent in private D&O, with all three accelerating from August.

PG&E says will recover $569mn from insurers on Dixie fire

California utility PG&E told investors yesterday (1 November) it expects to recover $569mn from its insurers on a potential $1.15bn liability relating to this summer’s Dixie fire in California.

Everest launches multi-year casualty buffer product

Everest’s structured solutions arm has launched a multi-year cancellable cover offering up to $10mn of per occurrence limits as well as aggregate limits aimed at addressing the capacity crunch and rising attachment points in the lead umbrella space of the US casualty market.

Axis adds CRC’s Dadi to US excess casualty team

Axis Insurance has named Abiy Dadi as vice president of its US excess casualty team.

Vantage launches healthcare and E&S excess casualty offerings

Bermudian start-up Vantage has continued the build-out of its insurance platform with the launch of healthcare and excess casualty offerings on the island and on the ground in the US.

Aon: rate increases on large, complex umbrella/excess slow to 15% in Q2

Data from Aon has revealed a significant deceleration in average rate increases for large, complex umbrella/excess casualty accounts in the US from 44 percent in Q1 to 15 percent in the second quarter of 2021.

Westfield Specialty adds Rainone with excess casualty team from Vantage

Newly launched Jack Kuhn-led Westfield Specialty has added further senior underwriting talent from Vantage with the hiring of Joe Rainone and Steve Parker as part of a 10+ strong E&S excess casualty team from the Bermudian’s fledgling US insurance platform, The Insurer can reveal.

New CRC index shows moderating excess/umbrella rate increases

Wholesale giant CRC Group’s new monthly REDY index for excess casualty and umbrella business shows that rate increases eased back to 15.5 percent in June from 16.5 percent in April and 18.5 percent in May in the latest sign of moderation of hardening in the US commercial insurance sector.

Ex-Sompo Intl E&S excess casualty team linked with Tango Specialty move

The Jarrett Long-led E&S excess casualty team leaving Sompo International has been linked with a move to new MGA platform Tango Specialty, The Insurer can reveal.

E&S excess casualty head Long leaves Sompo International

Sompo International’s head of E&S excess casualty Jarrett Long is leaving the carrier along with a number of his team, The Insurer can reveal.

Lockton: excess liability market stabilisation expected by late 2021

Price increases in excess liability are expected to moderate and become less volatile in the coming months with a “market stabilisation” by late 2021 as demand falls and supply rises, according to Lockton.

Aon: rate increases on large, complex umbrella/excess moderated in Q1

Data from Aon has confirmed that average rate increases for large, complex umbrella/excess casualty accounts in the US eased back from 61 percent in Q4 2020 to 44 percent in the first quarter of this year, representing a “marked improvement” in the marketplace amid signs of increased competition.

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