Reinsurance News
adverse development cover
Everest enters $1.2bn adverse development reinsurance deal with Longtail Re
28th October 2025
Bermuda-based insurance and reinsurance firm Everest has entered into an adverse development reinsurance agreement, effective October 1, 2025, supported by Longtail Re, an affiliate of Stone Ridge Holdings Group, with the cover composed of two layers in excess of the $5.4 billion of North America Insurance and Other segment liability ... Read the full article
Enstar completes $75m legacy reinsurance agreement with James River
24th December 2024
The previously announced $75 million adverse development cover (ADC) reinsurance agreement between a wholly owned subsidiary of legacy player Enstar Group and certain subsidiaries of Bermuda-domiciled insurance holding company, James River Group Holdings, has been completed following receipt of the relevant regulatory approval and satisfaction of the other closing ... Read the full article
Enstar enters into additional $75m legacy reinsurance agreement with James River
12th November 2024
A wholly owned subsidiary of legacy player Enstar Group has entered into a $75 million adverse development cover (ADC) reinsurance agreement with certain subsidiaries of Bermuda-domiciled insurance holding company, James River Group Holdings. Under the terms of the agreement, Enstar will provide the $75 million of limit in excess of the ... Read the full article
Enstar completes ADC agreement with IAG for long-tail reserves coverage
29th August 2024
Enstar has completed a transaction between its wholly-owned subsidiary, Cavello Bay Reinsurance Limited, and Insurance Australia Limited, on behalf of IAG, to provide adverse development cover (ADC) for IAG’s long-tail reserves. IAG announced this transaction in June 2024, alongside a five-year natural perils reinsurance agreement with National Indemnity Company and ... Read the full article
James River enters into LPT and ADC reinsurance agreement with State National
10th July 2024
Bermuda-domiciled insurance holding company, James River Group Holdings, has announced that two of its principal subsidiaries have entered into a combined loss portfolio transfer (LPT) and adverse development cover (ADC) reinsurance agreement with State National Insurance Company, Inc. Under the terms of the agreement, State National is set to provide $160 ... Read the full article
Enstar enters into adverse development cover agreement with AIG
7th September 2023
Enstar Group Limited has announced one of its subsidiaries has signed an agreement with American International Group, Inc. to provide protection against adverse development on a portion of Validus Re’s loss reserves. It is one of Enstar’s wholly-owned subsidiaries that has joined this agreement. AIG retains exposure to some portion of Validus ... Read the full article
BMS Re facilitates ADC for AMS RRG reinsured by Genesis
1st February 2022
Reinsurance broker BMS Re acted as the broker for a legacy reinsurance transaction between its long-standing client, Applied Medico- Legal Solutions Risk Retention Group (AMS RRG) and a subsidiary of Genesis Legacy Solutions. The legacy transaction is an adverse development cover (ADC) reinsured by a subsidiary of Genesis Legacy Solutions, which ... Read the full article
Enstar agrees £400m ADC with RSA
28th July 2021
A wholly-owned subsidiary of Enstar Group Limited has signed an agreement with Royal & Sun Alliance Insurance Limited (RSA) to provide adverse development cover (ADC) for certain businesses of RSA and its subsidiaries, in exchange for premium. The ADC will provide £400 million of aggregate cover in excess of a £2.595 ... Read the full article
AXA XL enters into ADC agreement with Enstar
25th February 2021
AXA XL, the property & casualty and specialty risk division of AXA, has entered into an adverse development cover (ADC) agreement with a wholly owned subsidiary of Enstar Group Limited. The ADC agreement sees AXA XL secure coverage for 90% of potential adverse developments on its legacy long tail line reserves ... Read the full article
R&Q to provide adverse development cover for RenRe’s Syndicate 1458
8th September 2020
Randall & Quilter Investment Holdings Ltd. (R&Q) said this morning that it has entered into an agreement with RenaissanceRe Syndicate Management Limited (RSML) that will see it reinsuring Casualty reserves from the 2009 to 2017 years of account for RenRe's Lloyd’s Syndicate 1458. This arrangement had been out for tender to ... Read the full article
Enstar’s Clarendon agrees LPT & ADC reinsurance agreement with StarStone US
12th June 2020
Clarendon National Insurance Company, a wholly-owned subsidiary of Enstar, is to enter into a loss Portfolio Transfer (LPT) and Adverse Development Cover (ADC) reinsurance arrangement with StarStone US. Enstar announced yesterday the recapitalisation of StarStone US, revealing plans for a push back into the property and casualty (P&C) insurance markets, ... Read the full article
Aspen enters into ADC reinsurance agreement with Enstar
3rd March 2020
Bermuda domiciled insurer and reinsurer, Aspen Insurance Holdings Limited, has entered into an adverse development cover (ADC) reinsurance arrangement with wholly owned subsidiaries of Enstar Group Limited. Under the terms of this ADC reinsurance agreement, Enstar's subsidiary will reinsure losses incurred on or prior to December 31st, 2019 on a diversified ... Read the full article
Re/insurers’ increasing use of structured solutions to persist: S&P
20th September 2019
Analysts at S&P Global Ratings expect global insurers and reinsurers to increasingly leverage structured solutions to mitigate exposure to legacy business and prune unprofitable non-core products. The global re/insurance market remains competitive and challenging, and as a result, it's expected that companies will continue to strive for improved risk-adjusted returns by ... Read the full article
Hartford buying ADC for Navigators from Berkshire Hathaway
2nd May 2019
The Hartford has announced that it plans to buy $300 million of adverse development cover (ADC) from Berkshire Hathaway to protect it against unfavourable loss reserve movement at The Navigators Group, which The Hartford is in the process of acquiring. Subject to the closing of its acquisition this summer, The Hartford ... Read the full article
R&Q issues adverse development reinsurance to risk retention group
9th March 2018
Randall & Quilter Investment Holdings Ltd. (R&Q) has announced the issuance of a $70 million adverse development cover reinsurance policy to a U.S domiciled risk retention group (RRG). Written by Accredited Surety and Casualty Company, Inc. (Accredited), R&Q’s wholly owned A- admitted carrier, the reinsurance covers medical professional liability and general ... Read the full article
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