Premiums related to RSUI underwritten business are evenly split between the admitted and non-admitted insurance markets, with approximately 68.0% of total premiums written for specialty property coverages. RSUI underwritten business ranks in the top 11 excess & surplus underwriters based on 2001 net premiums written and has consistently generated underwriting profits since its inception in 1988. The bulletin noted: “RSUI underwrites specialty insurance coverages through wholesale brokers and producers. Best (See related article in “East”)Īlleghany also noted that “URC expects to acquire Landmark American Insurance Company, a surplus lines insurance company, from Royal & Sun Alliance during the third quarter to write non-admitted or surplus business underwritten by RSUI.” Once the transactions have been completed Alleghany plans to rename URC as “RSUI Indemnity Company” and to rename RSUI as “Resurgens Specialty Underwriting, Inc.” It also said that “Pending satisfaction of regulatory rate and form filings by URC and the acquisition of Landmark, RSUI will underwrite on policies issued by insurance affiliates of Royal & Sun Alliance and fully reinsured by URC.” Alleghany said it had capitalized the company “at approximately $500.0 million,” and referred to the financial strength rating of A (Excellent) assigned to URC by A.M. Alleghany also said that “to support future business to be underwritten by RSUI,” it has acquired Underwriters Reinsurance Company from Swiss Re America Holding Corporation.
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