Reinsurance News
Legacy insurance and reinsurance news
News about the legacy insurance and reinsurance market, where legacy liabilities are run-off, transferred or acquired in legacy transactions, allowing their original holders or underwriters to achieve finality on those books of business.
Swiss Re appoints D’Andrea to Italy CEO, as Coletta takes EMEA run-off role
15th June 2017
Global reinsurance specialist Swiss Re has appointed Daniela Read the full article
Compre to acquire captive Equinox CA Europe
12th June 2017
Insurance and reinsurance legacy specialist Compre has today announced plans to acquire Equinox CA Europe, a captive insurer of global engineering and construction conglomerate SNC-Lavalin. Nick Steer, CEO of Compre, said; “I am delighted to announce this latest acquisition, our fourth this year, from a leading group in its field. "This is ... Read the full article
Aegon selling its two largest US run-off businesses to Wilton Re
22nd May 2017
Global insurance and financial services specialist Aegon is selling its two largest U.S. run-off insurance businesses to Wilton Re, the U.S. life re/insurer that specialises in the acquisition of in-force portfolios. Aegon is selling its payout annuity business and Bank Owned / Corporate Owned Life Insurance business (BOLI/COLI), to Wilton Re, ... Read the full article
Speed of execution key in Zurich annuity reinsurance deal: RGA
19th May 2017
The speed with which Reinsurance Group of America helped Zurich Insurance Group subsidiary Farmers Farmers New World Life to the recent $2.3 billion annuity reinsurance transaction was key and demonstrates the reinsurers ability, it said today. Yesterday we reported on the completion of the $2.3 billion annuity reinsurance transaction, ... Read the full article
First run-off portfolio transfer insurer established in Rhode Island
28th March 2017
The first insurance license allowing a company to undertake run-off portfolio transfer solutions has been granted in Rhode Island, a first for the state. ProTucket Insurance Company has been granted a license that sees it become the first Rhode Island domestic insurer established specifically for providing run-off portfolio transfer solutions, thanks ... Read the full article
AXA promotes Braverman to lead its Legacy business
23rd March 2017
AXA has announced the promotion of Josh Braverman, Chief Investment Officer (CIO) and Treasurer to head its Legacy Book Business, and the promotion of Steven M. Joenk to CIO. Braverman joined AXA in 2009 to lead its Derivatives & Hedging teams, which included the development and implementation of the company's derivatives and hedging strategies. Three years after joining the ... Read the full article
DARAG CEO Gossmann to leave run-off insurer
3rd March 2017
Specialist European run-off insurer DARAG is losing its CEO, after Arndt Gossmann stepped down from the role as of the 28th February 2017. Gossmann will remain with DARAG in an advisory capacity through a transition period. DARAG specialises in legacy and run-off transactions, helping other insurers to transfer portfolios of legacy business ... Read the full article
Enstar in £957m legacy UK employers’ liability reinsurance deal with RSA
8th February 2017
A subsidiary of Bermuda based insurance, reinsurance and run-off specialist Enstar Group has entered into a reinsurance agreement with RSA Insurance Group PLC to reinsure £957 million of its legacy UK employers’ liability business. The legacy reinsurance deal will see Enstar's subsidiary assuming £957 million (approximately $1.2 billion) of RSA's gross ... Read the full article
Compre completes another run-off acquistion
25th January 2017
Compre, the insurance and reinsurance legacy specialist has announced another run-off acquisition for 2017, acquiring Wüstenrot & Württembergische (W&W) AG’s Ridgwell Fox & Partners (RFP) pool legacy reinsurance business. Nick Steer, Chief Executive Officer (CEO) of Compre, said he was pleased the firm had completed its third deal "involving a German ... Read the full article
R&Q to grow U.S. insurer Accredited with reinsurance backing
19th January 2017
Randall & Quilter Investment Holdings Ltd. (R&Q) is set to grow its Florida domiciled U.S. domestic insurer Accredited Surety and Casualty Company, Inc. with the help of backing from Lloyd's of London and global reinsurance players. Today, R&Q has announced the completion of an arrangement with Cinium Financial Services Corp., a ... Read the full article
Compre in second run-off acquisition of 2017 with Swiss Re
18th January 2017
Independent insurance and reinsurance legacy specialist, Compre, has announced its second acquisition of the year, providing a legacy solution to global reinsurer Swiss Re. Compre announced earlier this month that it had acquired the run-off re/insurance business of the UK branch of AG Insurance SA, and now the legacy specialist has announced its ... Read the full article
$510m run-off startup Premia launches with Arch & Kelso backing
9th January 2017
Premia Holdings Ltd., a new Bermuda-based property & casualty insurance and reinsurance run-off group, has launched today after a $510 million initial capital raise and with backing from Arch Capital and Kelso & Company. Premia Re has been founded by industry veteran and former ACE / Chubb chief reinsurance officer Bill ... Read the full article
Compre acquires UK run-off re/insurance business of AG Insurance SA
6th January 2017
Independent insurance and reinsurance legacy specialist Compre has today announced its decision to purchase all of the run-off insurance and reinsurance business of the UK branch of AG Insurance SA for an undisclosed sum. The transaction is structured as a loss portfolio transfer and is awaiting relevant approvals in Belgium, Finland ... Read the full article
Enstar in $91.5m legacy asbestos & environmental liability acquisition
2nd January 2017
Bermuda based insurance, reinsurance and run-off specialist Enstar Group has made a $91.5 million acquisition of Dana Companies, LLC for its legacy asbestos and environmental liabilities. Dana Companies was part of Dana Incorporated, a world leading supplier of highly engineered drivetrain, sealing, and thermal-management technologies for vehicles. As a result of its ... Read the full article
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