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Lloyd's of London, generally known simply as Lloyd's, is an insurance and reinsurance market located in London, England. Unlike most of its competitors in the industry, it is not an insurance company; rather, Lloyd's is a corporate body governed by the Lloyd's Act 1871 and subsequent Acts of Parliament .
Argo Insurance’s excess casualty, property and professional lines provide access to non-Lloyd’s intermediaries outside the U.S. [33] In February 2023, Argo Group completed the sale of Argo Underwriting Agency Limited and its Lloyd’s Syndicate 1200 (ArgoGlobal) to Westfield for total cash proceeds of approximately $125 million.
A surplus lines broker seeking to procure or place nonadmitted insurance in a state for an exempt commercial purchaser ("ECP") is not required to satisfy any state requirement to a make a due diligence search to determine whether the full amount or type of insurance sought by the ECP may be obtained from admitted insurers if: (1) the broker ...
The company's product lines include Aviation, Environmental, [16] [17] IronBuilt, IronHealth, [18] IronPro, Marine Re, Personal Lines, [19] Political Risk, [20] Ironshore Programs, [21] and U.S. Property and Specialty Casualty. [22] The Ironshore group of companies is rated A (Excellent) by A.M. Best with a Financial Size Category of XIV.
In 1980, the company became an insurance carrier when Essex Insurance Company was incorporated and licensed to write excess and surplus lines business. [5] In 1986, the Markel Corporation was listed on the NASDAQ exchange, with an IPO offered at $8.33 per share. The company's trading was moved to the NYSE in 1997. [6]
The IUA was formed in January 1998 from the merger of the London International Insurance and Reinsurance Market Association (LIRMA) and the Institute of London Underwriters (ILU). [3] The main stated reason for the merger was the desire to give the London company market a single voice in dealings with government, regulators and other insurance ...
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 1878, at the age of 18, Heath became a clerk at Henry Head & Co., a firm of brokers and underwriters at Lloyd's of London. [12] [1] [13] [5] In 1880, at the age of 21, he was elected an underwriting member of Lloyd's, [1] [12] [14] with the backing of a £7,000 deposit provided by his father, [13] [5] [15] [4] and he began underwriting for himself two years later, in 1882.