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.
Carrick Re completes LPT deal with National Casualty and Nationwide UK branches
7th August 2025
Carrick Group's Bermuda class 3A reinsurer, Carrick Re Ltd., has entered into a loss portfolio transfer (LPT) with National Casualty Company of America, Limited, National Casualty Company, UK Branch, and Nationwide General Insurance Company, UK Branch, ahead of a proposed Part VII transfer. According to Carrick Group, which is a Bermuda-based ... Read the full article
Dovetailing prospective & retrospective solutions the best use of legacy: Jass, Augment Risk
8th July 2025
In a recent interview with Reinsurance News, Jag Jass, Partner - Retrospective at reinsurance broker Augment Risk, explained that while there will always be a place for larger transactions targeting toxic liabilities and discontinued lines of business, legacy is best used when dovetailing an approach from a prospective and a ... Read the full article
Reinsurance News Legacy Market Roundtable 2025
3rd July 2025
Around the annual meeting of the legacy re/insurance market in Brighton, UK, in May, we hosted our inaugural Legacy Market Roundtable, in partnership with global reinsurance company, Swiss Re, during which 11 experts from across the retrospective world discussed key trends, opportunities, and challenges for the market. Read the full article
Marco Capital acquires R&Q Gamma, marking third transaction with parent
20th June 2025
European P&C insurance run-off group Marco Capital has acquired R&Q Gamma Company Limited, subject to regulatory approval. Marco Capital explained that R&Q Gamma, formerly The Royal London General Insurance Company Ltd, was established in 1983 and put into run-off in 1999. It was purchased by R&Q Insurance Holdings Ltd in 2016 to ... Read the full article
Ambac updates timing of legacy financial guarantee business sale to Oaktree
18th June 2025
Ambac Financial Group, Inc., an insurance holding company, has provided an update on the timing of the sale of its legacy financial guarantee businesses to funds managed by Oaktree Capital Management, L.P., and on the extension of the maturity date of its outstanding credit facility. The $420 million cash sale of ... Read the full article
Legacy Roundtable: Stakeholders eager to close perception gap & advance run-off market
18th June 2025
Around the annual meeting of the legacy insurance and reinsurance marketplace in Brighton, UK, last month, we hosted a roundtable discussion in partnership with global reinsurer Swiss Re, during which experts from across the market discussed trends, opportunities and challenges for the run-off world. Held on May 12th, 2025, it was ... Read the full article
Legacy is a long-term business with relationships that go beyond reserves: Swiss Re’s Schilling & Schäfli
12th June 2025
Global reinsurance giant Swiss Re views legacy as a long-term business built on trusted relationships, and while positive steps have been taken to improve the resilience and perception of the market, there’s more work to do, according to Janic Schilling, Head Legacy Origination and Andreas Schäfli, Head of P&C Legacy, ... Read the full article
Premia’s Alan Gray selected to serve as manager for ECRA and CMC pools
10th June 2025
Alan Gray LLC, in conjunction with its wholly owned subsidiary A.G. Risk Management, Inc., has been appointed under a Pool Manager Agreement to serve as the successor pool manager for the Excess and Casualty Reinsurance Association (ECRA) and Carpenter Management Corporation (CMC) reinsurance pools. The ECRA and CMC reinsurance pools, which ... Read the full article
I’m very positive on where the legacy market is and where it’s going: RiverStone International Group CFO
19th May 2025
After a “fantastic” 2024 underpinned by a progressive global buildout and impressive year-on-year growth across all key metrics, Andy Creed, Group Chief Financial Officer (CFO) and UK CEO of legacy acquirer RiverStone International, is “very positive” on where the run-off market is going. Last week, at the annual IRLA conference in ... Read the full article
Compre completes legal transfer of European liability portfolio from Ethias
14th May 2025
Bermuda-domiciled legacy reinsurer Compre Group Holdings Limited has completed an insurance business transfer of a portfolio of European casualty and motor liabilities from Ethias S.A. (Ethias). The transfer follows a prior Ethias Loss Portfolio Transfer (LPT), which took place in 2023, covering approximately €140 million of reserves across the European Union. The ... Read the full article
IRLA Congress: Legacy market shifts to proactive capital management and risk solutions
12th May 2025
The legacy and reinsurance market, once viewed as a niche or reactive segment of the insurance sector, has now become a central component of capital management strategies and long-term planning. That was the consistent theme emerging from this year’s IRLA Congress & Business Seminar, where industry leaders underscored the market’s growing ... Read the full article
Legacy activity momentum in UK & Ireland continues into Q1’25: PwC
12th May 2025
A new PwC report on non-life insurance run-off deals has revealed that in Q1 2025, 8 acquirers publicly announced 11 deals, 9 of which disclosed transferred reserves totalling nearly $1bn, with the UK and Ireland dominating by accounting for 9 of these deals, reflecting the sustained momentum of legacy activity ... Read the full article
AXIS completes $2.3bn LPT reinsurance agreement with Enstar
25th April 2025
Global insurer and reinsurer, AXIS Capital Holdings Limited and global legacy re/insurance specialist, Enstar Group Limited have completed their previously announced 75% ground-up quota share loss portfolio transfer (LPT) reinsurance agreement. The transaction was completed following the receipt of regulatory approvals and satisfaction of various other closing conditions. The LPT agreement ... Read the full article
Compre acquires Covéa’s US subsidiary CSE Group
16th April 2025
Bermuda-domiciled legacy reinsurer Compre Group Holdings Limited (Compre) has announced the completion of its acquisition of the CSE Group, a US subsidiary of Covéa. The CSE Group includes two California-domiciled personal lines insurance carriers that ceased underwriting new business in 2024. This marks the second transaction between Covéa and Compre, ... Read the full article
Gallagher Re appoints Tom Dixon as Head of Legacy UK
14th April 2025
Reinsurance broker Gallagher Re has announced the appointment of Tom Dixon as Head of Legacy UK. Dixon brings 20 years of experience in insurance and transactions, beginning in insurance audit and transaction services before transitioning into non-life legacy acquisitions. He joins Gallagher Re from Perigon Re, where he was Managing Director. Prior ... Read the full article
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