NU Online News Service, May 24, 2:00 p.m. EDT
Non-U.S. organizations vaulted up a premium ranking of excess and surplus lines insurance writers in the United States in 2009, although industry-wide U.S. E&S premiums shrank for the third straight year, an exclusive report by National Underwriter revealed.
Bermuda-based Ironshore Group was the biggest sprinter--climbing 35 spots to 20th place on a ranking of groups based on their direct U.S. E&S premium writings in 2009, with its $312 million total pushing the group up from the 55th spot it occupied in 2008.
Overall, U.S. E&S premiums fell 7.5 percent in 2009. Among the top-25 groups, however, six bucked the overall trend, reporting premium jumps. All six contrarians, like Ironshore, hail from organizations based beyond U.S. shores.
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