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In February 2021, Ambac launched a specialty program insurance business, Everspan Group, which includes Everspan Indemnity Company, an excess and surplus lines carrier and Everspan Insurance Company, an admitted carrier. [26]
In 2008, Cincinnati began writing excess and surplus lines insurance under a new subsidiary called the Cincinnati Specialty Underwriters Insurance Company. [citation needed] MSP Underwriting, a global specialty underwriter, was acquired in February 2019, and was rebranded Cincinnati Global Underwriting Ltd. on May 1, 2019.
Ironshore Inc. provides broker-sourced specialty property and casualty insurance coverages [1] for varying risks on a global basis through its platforms in Australia, Bermuda, Canada, Ireland, Singapore, the United States and the United Kingdom.
Some captives purchase excess of loss reinsurance and offer coverage to third parties, sometimes to leverage their skills and sometimes for tax reasons. Financial reinsurance in various forms (finite, surplus relief, funded, etc.) consists of various approaches to reinsurance involving a very high level of prospective or retrospective premiums ...
Starr is an insurance and investment organization with a presence on six continents; through its operating insurance companies, Starr provides property, casualty, and accident and health insurance products, as well as a range of specialty coverages, including aviation, marine, energy and excess casualty insurance. [1]
AmTrust Financial Services was founded by brothers George Karfunkel and Michael Karfunkel in 1998. [7] [8]In 2005, Ronald E. (Ron) Pipoly was appointed as CFO. [9] [10]AmTrust began trading on the NASDAQ Global Select Market on November 13, 2006.
In 2011, the company opened Primary Casualty and Excess Casualty divisions. [37] In 2013, the company enters the North American construction property risks markets, and begins to offer builders risk treaty reinsurance out of London office. [38] In 2015, the company acquired Producers Ag Insurance Group (ProAg), a writer of crop insurance. [39]
Capital surplus, also called share premium, is an account which may appear on a corporation's balance sheet, as a component of shareholders' equity, which represents the amount the corporation raises on the issue of shares in excess of their par value (nominal value) of the shares (common stock).