Reinsurance News
loss portfolio transfers
R&Q Accredited completes loss portfolio transfer
5th December 2022
R&Q has completed a loss portfolio transfer worth $60m to its a- (IX) rated carrier, Accredited Surety and Casualty Company, Inc. According to the firm, the reinsurance transaction provides the California-based pool with economic finality for approximately $60m of reserves related to legacy General Liability, Employment Practices Liability and Auto Liability ... Read the full article
BMS Re acts as broker for Conifer Holdings LPT transaction
14th November 2022
BMS Re, the specialty reinsurance broker, has announced it has acted as broker and advisor for a bespoke Loss Portfolio Transfer (LPT) transaction on behalf of Conifer Holdings, Inc., a specialty insurance holding company. According to the broker, this transaction marks the latest from BMS Re’s thriving legacy and capital solutions ... Read the full article
Conifer closes LPT reinsurance agreement with Fleming Re
8th November 2022
Conifer Holdings, a specialty insurance holding company, has secured $20 million of adverse development cover for accident years 2019 and prior, after closing a Loss Portfolio Transfer (LPT) reinsurance agreement with Fleming Reinsurance Ltd. Under the agreement, Fleming Re will cover an aggregate limit of $66.3 million of paid losses on ... Read the full article
Premia enters LPT agreement with Hiscox
17th August 2022
Premia Syndicate 1884 has entered into a loss portfolio transfer (LPT) agreement with Hiscox Syndicate 33. A statement from the firm says that the subject portfolio consists of a diverse mix of business underwritten by Syndicate 33 during Years of Account 1993 to 2018. The transaction is retroactively effective to January ... Read the full article
Fortitude Re closes P&C Reinsurance Transaction
15th March 2022
FGH Parent has successfully closed a P&C loss portfolio transfer reinsurance transaction between Bermudian legacy reinsurance company Fortitude Re and a subsidiary of a major international insurance and reinsurance group. Under the agreement, the cedant has purchased up to $410 million of aggregate reinsurance protection for a premium of $320 million. Fortitude P&C ... Read the full article
James River & Fortitude Re enter into $335m LPT retro agreement
1st March 2022
JRG Reinsurance Company Ltd. (JRG Re), a primary operating subsidiary of James River Group Holdings, Ltd., has entered into a $335 million loss portfolio transfer retrocession agreement with Fortitude Reinsurance Company Ltd. Under the terms of the agreement, Fortitude Re will reinsure the majority of the reserves from the firm's casualty ... Read the full article
DARAG completes motor PTA with SADA Assurances
18th January 2022
Leading legacy acquirer DARAG Group has completed the motor Portfolio Transfer Agreement (PTA) with French insurer SADA Assurances, a subsidiary wholly owned by the German group DEVK Versicherungen. DARAG now provides economic and operational finality for a portfolio of all of SADA’s motor business, which comprises French motor third party liability, ... Read the full article
Enstar enters into $3.12bn LPT transaction with Aspen
11th January 2022
A wholly owned subsidiary of Enstar Group Limited has reached an agreement for a ground-up loss portfolio transfer (LPT) with Aspen Insurance Holdings Limited for its 2019 and prior business. Under the terms of the arrangement, Enstar's subsidiary will reinsure losses incurred on or prior to December 31st, 2019, on a ... Read the full article
Canopius and RiverStone complete $780mn LPT
29th December 2021
Specialty re/insurer Canopius Group has completed a loss portfolio transfer (LPT) agreement with legacy and run-off specialist, RiverStone International. The arrangement covers discontinued lines of insurance business underwritten by Syndicates owned by Canopius. Under the agreement, RiverStone's Syndicate 3500 indemnifies the reinsurer against potential losses in respect of net liabilities valued at ... Read the full article
DARAG announces LPT agreement with China Taiping UK
10th December 2021
DARAG Group, a leading legacy acquirer, has announced that its German carrier DARAG Deutschland AG has signed an agreement for a loss portfolio transfer (LPT) with China Taiping Insurance (UK) ahead of an intended Part VII transfer. The deal includes CTI’s business underwritten in the Republic of Ireland, the Netherlands, Belgium ... Read the full article
Brit closes $380m loss portfolio transfer with RiverStone International
18th November 2021
Specialty insurer and reinsurer Brit Ltd has announced the completion of a loss portfolio transfer (LPT) agreement with run-off specialist RiverStone International (RiverStone). The deal is for predominantly legacy years of account on certain classes and certain discontinued classes of business underwritten by Brit Syndicate 2987 and is effective from 1 ... Read the full article
Stonybrook completes Cypress and Genesis Legacy Solutions LPT
17th November 2021
Stonybrook Capital & Risk Management has completed the Loss Portfolio Transfer between Cypress Property & Casualty Insurance Company (Cypress), and Genesis Legacy Solutions (GLS), part of Maiden Holdings. This agreement reinsures Cypress’ artisan general liability portfolio written in Florida and Texas from 2008 through 2020. Cypress Group Holdings is the holding company ... Read the full article
Genesis Legacy Solutions makes first Loss Portfolio Transfer
12th November 2021
Genesis Legacy Solutions (GLS), part of the Maiden Holdings has issued its first Loss Portfolio Transfer Agreement through its Vermont cell to an affiliate of Cypress Property & Casualty Insurance Company. This agreement reinsures Cypress’ commercial general liability portfolio written in Florida and Texas from 2008 through 2020. Stonybrook Risk Management advised ... Read the full article
James River closes LPT reinsurance deal with Uber captive insurer
30th September 2021
James River Group Holdings, the Bermuda-based insurance holdings company, has entered into a loss portfolio transfer (LPT) reinsurance transaction with Aleka Insurance, a wholly owned captive insurer of Uber Technologies, under which Aleka will reinsure James River’s legacy portfolio of commercial auto policies related to Uber’s ridesharing business. Under the terms ... Read the full article
Enstar subsidiary inks reinsurance contract with ProSight Global
4th August 2021
A subsidiary of legacy specialist Enstar Group has secured a deal with ProSight Global to provide reinsurance relating to 2019 and prior year business. In signing the deal, ProSight will receive a ground up loss portfolio transfer of discontinued workers’ compensation and excess workers’ compensation lines, as well as adverse development ... Read the full article
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