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Run-off

R&Q to novate management of ProSight’s Syndicate 1110

30th October 2017

Randall and Quilter Investment Holdings (R&Q), has reached an agreement with ProSight Specialty Insurance to novate the management of Syndicate 1110 to R&Q Managing Agency (RQMA), with day-to-day claims handling on non-U.S. business outsourced to R&Q Central Services. R&Q also announced plans to acquire 100% of the ProSight corporate members shares, ... Read the full article

Munich Re’s Ergo to begin sale of life insurance businesses: Reports

30th October 2017

According to industry reports, Ergo, the primary insurance arm of reinsurance giant Munich Re, is moving forward with plans to sell the life insurance books of Ergo Leben and Victoria Leben. Citing a report in Handelsblatt daily, Reuters states that two people familiar with the matter have said that management within the entity ... Read the full article

Randall & Quilter looks to fund growth with £49.3m capital raise

5th October 2017

Non-life insurance, reinsurance legacy and run-off acquisition and management, and investments specialist Randall & Quilter Investment Holdings Ltd. is seeking to raise close to £50 million in order to fund future growth. The capital raise will feature a £45 million placement of new ordinary shares with institutional shareholders and Directors, as ... Read the full article

Munich Re reported close to selling some run-off ERGO life units

27th September 2017

Global reinsurance player Munich Re has been reported to be on the verge of offloading some of its primary life insurance units that are in run-off, with a legacy disposal or reinsurance to close transaction the most likely outcome. It's been reported in the German media and by Reuters that the ... Read the full article

R&Q completes novation of reinsurance policies from Cayman group captive

21st September 2017

Randall & Quilter Investment Holdings Ltd. (R&Q) recently announced that it has successfully completed the novation of reinsurance policies issued between 2006 and 2011 from a Cayman-based group captive. The firm has said that the policies have been novated into R&Q Quest (SAC) Limited, its owned segregated account company. According to R&Q, the ... Read the full article

Monument Re in acquisition of Belgian life run-off vehicle of ABN AMRO

19th September 2017

Monument Re Limited, a Bermuda Class E reinsurer that specialises in acquisitions of run-off, closed and asset-intensive insurers, has acquired a Belgian life insurance focused run-off vehicle featuring the ABN AMRO portfolio of business. Monument Re has acquired Benelux Life Run-Off SCS, which includes the run-off vehicles acquisition of ABN AMRO ... Read the full article

DARAG strengthens core team with three senior appointments

7th September 2017

European run-off insurer DARAG has announced three senior appointments, naming Mike Trotman as new Chief Financial Officer (CFO) Alex Roth as Head of M&A and Jim Wilson as new Group Chief Actuarial Officer. The firm said the three appointments are key to the future of the Group and its position as ... Read the full article

Compre acquires AXA Insurance run-off legacy portfolio

4th September 2017

Re/insurance legacy specialist Compre has acquired a legacy portfolio of re/insurance in run-off from AXA Insurance for an undisclosed sum. The portfolio was initially underwritten by RW Gibbon & Son between 1962-1964; it's the 26th portfolio deal completed by Compre to date. Nick Steer, CEO of Compre, said; “I am extremely pleased ... Read the full article

Monument Re acquires Laguna Life DAC

31st August 2017

Monument Re has acquired Laguna Life DAC, the Irish life assurance operations of Enstar Group, subject to regulatory approval and satisfaction of closing conditions. The Class I Life assurance insurer, Laguna, was placed into run-off in November 2009 and became part of Enstar in 2011 prior to its acquisition. Manfred Maske, Group CEO ... Read the full article

Compre acquires Norwegian insurer Gjensidige’s legacy portfolio

21st August 2017

Independent reinsurance legacy specialist Compre has announced the acquisition of a legacy portfolio from major Norwegian insurer Gjensidige Forsikring ASA for an undisclosed sum. The legacy portfolio is made up of U.S. asbestos, pollution and health hazard (APH) risks underwritten between 1983 and 1985. Its purchase by Compre was structured as a loss portfolio ... Read the full article

Reports claim Generali is looking to sell its $50bn German life insurance portfolio

13th July 2017

Reports from Reuters claim that Italian insurer Generali is looking to sell its €44 billion (US$50 billion) German life insurance portfolio, as low-interest rates and more rigorous capital rules across Europe hinder operations. According to Reuters' sources close to the matter, Morgan Stanley is looking at options, which includes the sale ... Read the full article

Premia hails ability to “quickly & quietly deliver” complex reinsurance transactions

13th July 2017

Premia Holdings Ltd. Chief Executive Officer Bill O’Farrell has hailed the company's ability to "quickly and quietly deliver" on complex reinsurance transactions, such as the loss development reinsurance agreement the company completed with AmTrust recently. Premia Re was founded in January as a start-up Bermuda-based property & casualty insurance and ... Read the full article

R&Q completes acquisition of AstraZeneca Insurance

3rd July 2017

Randall & Quilter Investment Holdings has announced the completion of its acquisition of AstraZeneca Insurance Company, AZICO after receiving all necessary approvals from regulators. The global non-life insurer and legacy or run-off reinsurance solutions specialist intends to undertake a Part VII Transfer of AZICO's remaining insurance business to one of the Randall & ... Read the full article

Compre sets up Malta PCC for legacy deals

3rd July 2017

Independent insurance and reinsurance legacy or run-off transaction specialist Compre has established a protected cell company (PCC) in Malta, which it intends to use for transactions involving portfolios of discontinued non-life insurance and reinsurance business. Compre said this morning that it has received approval from the Maltese Financial Services Authority (“MFSA”) ... Read the full article

Former Sompo Canopius CEO named Chairman of run-off specialist, DARAG

29th June 2017

European specialist run-off insurer, DARAG, has announced that Stuart Davies has been appointed to succeed Claus Stenbaek as Chairman of the Group, effective immediately. Within the global insurance industry Davies most recently served as Group Chief Executive Officer (CEO) of Sompo Canopius, and was previously Managing Director of AEGIS London. He ... Read the full article

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