Reinsurance News
Run-off news
News about the insurance and reinsurance run-off market, where legacy liabilities are transferred or acquired in run-off transactions, allowing their original holders or underwriters to achieve finality on those books of business.
R&Q acquires Bermudian captive insurer, Linco Limited
21st March 2017
Randall & Quilter American Holdings Inc., the U.S. subsidiary of specialist non-life insurance investor, service provider and underwriting manager, Randall & Quilter Investment Holdings (R&Q), has announced the acquisition of Bermuda captive Linco Limited. Domiciled in Bermuda, Linco provided reinsurance protection to its shareholders for workers' compensation, general and automotive liability, and ... 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
Run-off market to double in 2017: DARAG
3rd February 2017
Run-off specialist DARAG has predicted legacy transactions will reach ground-breaking heights in 2017 as current market trends and pressures drive the sector’s rapid growth. DARAG Group Chief Executive Officer (CEO), Arndt Gossmann, called 2016 an “unprecedented year for run-off, both in number of transactions and volume,” and said this year will bring ... 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
Enstar completes reinsurance of QBE’s legacy business
12th January 2017
Bermuda-based legacy and run-off insurance and reinsurance specialist Enstar Group has closed on its previously announced transaction that sees it reinsure a legacy book for QBE Insurance Group Limited. The deal saw Enstar reinsure the legacy multi-line property and casualty business of QBE, enabling the insurer to achieve finality on those ... 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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