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DARAG bolsters UK presence with two acquisitions

12th February 2020

Legacy specialist DARAG Group Limited has completed its acquisition of The Underwriter Insurance Company Limited, and also its Sale and Purchase Agreement with One Re Ltd. Both transactions were completed via DARAG Deutsche Versicherungs- und Ruckversicherungs-AG, the legacy specialist's German operation. The Underwriter, which is a UK domiciled company that is in ... Read the full article

SCOR’s Channel Syndicate completes RITC transaction with RiverStone

11th February 2020

The Channel Syndicate at Lloyd’s of London, which is part of global re/insurer SCOR’s Specialty Insurance platform, has completed its reinsurance to close (RITC) transaction with legacy specialist, RiverStone. Effective January 1st, 2020 the transaction covers the 2017 and prior years of account of Syndicate 2015. First announced in November of ... Read the full article

AXA LM acquires RenRe’s UK run-off business

4th February 2020

AXA Liabilities Managers (AXA LM), a division of AXA and an acquirer and manager of legacy re/insurance business, has announced an agreement to acquire RenaissanceRe (UK) Limited from Bermuda-based reinsurer, RenaissanceRe Holdings Ltd. RenaissanceRe (UK) Limited, a company in run-off, was formerly known as Tokio Millennium Re (UK) Limited, and ... Read the full article

AFG’s Q4 results include $58mn non-core charge from Neon exit

4th February 2020

American Financial Group, Inc. (AFG) has reported net earnings of $211 million for the fourth-quarter of 2019 against a net loss of $29 million for the same period in 2018. The growth in earnings has occurred despite the firm's Q4 result including a $58 million hit from its previously announced ... Read the full article

R&Q completes portfolio transfer from Swedish captive

30th January 2020

Accredited Insurance (Europe) Limited, a wholly owned subsidiary of Randall & Quilter Investment Holding Ltd. (R&Q), has completed the transfer of business from Lansen Försäkringsaktiebolag (Lansen), a wholly owned subsidiary of SAAB Aktiebolag. R&Q states that the portfolio transfer is designed to enable SAAB to close its captive insurer that it ... Read the full article

DARAG concludes reinsurance arrangement with Lloyd’s Syndicate

15th January 2020

Legacy acquirer, DARAG Group Limited has today announced the completion of a transaction with a leading Lloyd's of London syndicate, to provide reinsurance for a book of U.S. liability business. Under the terms of the agreement, DARAG'S Malta-based risk carrier, DARAG Malta Insurance and Reinsurance PCC Ltd., will provided the reinsurance. Tom ... Read the full article

R&Q’s Joint CEO Roger Sellek resigns

15th January 2020

Changes at the top continue at non-life legacy and run-off investor and capacity provider to program business Randall & Quilter Investment Holdings Ltd. (R&Q), with one of its Joint CEO's resigning and set to depart immediately. The company said this morning that Roger Sellek has resigned from his position at R&Q ... Read the full article

Bermuda’s Fleming Re acquires AggCap II

20th December 2019

Fleming Re Holdings LLC has announced the acquisition of AggCap Insurance Ltd,  - AggCap II, a group captive that is in run-off providing workers compensation coverage for a large membership of California-based agribusinesses. AggCap Insurance Ltd is a Bermuda-based segregated accounts company that has provided workers comp insurance, loss control services, ... Read the full article

DARAG completes legacy portfolio transfer with SOVAG

20th December 2019

Legacy acquirer DARAG Group Limited has announced the completion of its portfolio transfer deal with German insurer and reinsurer, SOVAG. The deal, which was first announced in August 2019, sees the portfolio transferred to DARAG’s German subsidiary, DARAG Versicherungs- und Ruckversicherungs-AG. The legacy book consisted of both direct insurance and inwards ... Read the full article

MS Amlin puts UK P&C classes into run-off

19th December 2019

Global re/insurer MS Amlin has confirmed that it will cease underwriting certain lines of UK property and casualty (P&C) business from January 31, 2020, in line with its new strategic direction. Corporate Property, Real Estate, Casualty and Package Binders are among the classes the company plans to exit. The move follows the ... Read the full article

Catalina to acquire Asia Capital Re, targets run-off growth in Asia

5th December 2019

Catalina Holdings, the Bermuda-headquartered non-life run-off and legacy insurance and reinsurance specialist, is set to acquire Asia Capital Reinsurance Group in a strategic move aiming for growth in Asia. The acquisition marks the first time Catalina has entered the Asian run-off market and the company aims to leverage the acquisition of ... Read the full article

Hamilton puts Acappella syndicate into run-off

18th November 2019

Bermuda-based reinsurer Hamilton Insurance Group has announced that it is placing Acappella Syndicate 2014 into run-off with immediate effect. Group CEO Pina Albo explained that the third-party capital-supported Lloyd's syndicate was not expected to produce an adequte return on capital. Hamilton took on the syndicate as part of its recent acquisition ... Read the full article

Pioneer Syndicate 1980 to be placed into run-off

14th November 2019

Pioneer Underwriters has announced that following a strategic review it has determined that the cost of capital within the structure of its Lloyd's syndicate, Pioneer Syndicate 1980, is no longer economically efficient when compared with its other capital arrangements, and will therefore be placing the syndicate into run-off. Syndicate 1980 is ... Read the full article

Compre announces second legacy reinsurance transaction with AG Insurance

8th November 2019

Legacy specialist Compre has announced the signing of agreements to transfer an inwards reinsurance portfolio from Belgian insurer AG Insurance SA, for an undisclosed sum. The transaction involves the transfer of a portfolio comprised of business in run-off across numerous lines and territories, predominantly U.S. The legacy portfolio transfer is the firm's ... Read the full article

Vibe places Syndicate 5678 into run-off

8th November 2019

Vibe Syndicate Management has announced that Syndicate 5678 at Lloyd’s will be placed into run-off from December 31, 2019. CEO Joe England explained that Vibe had been unable to secure the support it needed to grow the Lloyd’s platform to an adequate scale. “It was with considerable regret that our board reached ... Read the full article

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