A softening property-casualty market hasn't deterred two insurers and a wholesale broker from setting up new operations devoted to specialty lines business. In fact, executives recently hanging up their "open for business" signs in the surplus lines sector believe they've timed their entrances propitiously, pointing to factors such as broker turnover and hurricane losses among those helping to propel their launches.
Beyond that, John DiBiasi–who heads up a new E&S unit of a long-term player in the market, XL Capital–believes that the enduring nature of solid specialty lines businesses make them timely in any market.
"There is always a good time in the market for any company that focuses on service and relationships," he told National Underwriter in one of the profiles of the three newest players in the specialty lines arena, presented below.
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