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.
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
Aegon completes sale of two run-off businesses to Wilton Re
29th June 2017
Global insurance and financial services specialist Aegon has completed the sale of its two largest U.S. run-off insurance businesses to Wilton Re, the U.S. life reinsurance firm that specialises in the acquisition of in-force portfolios. In a transaction first announced back in May, Aegon has sold its payout annuity business ... Read the full article
R&Q assumes $43m in liabilities from California insurer in reinsurance contract
20th June 2017
Randall & Quilter Investment Holdings (R&Q) has written a loss portfolio transfer reinsurance contract to cover a California-based insurance group's livery, trucking, and contractors’ liability programme issued from 2007 to 2015. The deal includes R&Q assuming about $43 million in undiscounted liabilities as well as the carrier's claims handling. Ken Randall, Chairman ... Read the full article
Swiss Re appoints D’Andrea to Italy CEO, as Coletta takes EMEA run-off role
15th June 2017
Global reinsurance specialist Swiss Re has appointed Daniela Read the full article
Aegon selling its two largest US run-off businesses to Wilton Re
22nd May 2017
Global insurance and financial services specialist Aegon is selling its two largest U.S. run-off insurance businesses to Wilton Re, the U.S. life re/insurer that specialises in the acquisition of in-force portfolios. Aegon is selling its payout annuity business and Bank Owned / Corporate Owned Life Insurance business (BOLI/COLI), to Wilton Re, ... Read the full article
DARAG to acquire Sweden-based captive insurer Ikano Försäkring AB
7th April 2017
Run-off specialist DARAG is set to acquire Ikano Försäkring AB, a Stockholm-based European captive insurer and member of the Ikano Group - an international group of companies operating in finance, insurance, production, real estate and retail. DARAG has chosen not to reveal details of the transaction costs - the share purchase ... Read the full article
First run-off portfolio transfer insurer established in Rhode Island
28th March 2017
The first insurance license allowing a company to undertake run-off portfolio transfer solutions has been granted in Rhode Island, a first for the state. ProTucket Insurance Company has been granted a license that sees it become the first Rhode Island domestic insurer established specifically for providing run-off portfolio transfer solutions, thanks ... Read the full article
AXA promotes Braverman to lead its Legacy business
23rd March 2017
AXA has announced the promotion of Josh Braverman, Chief Investment Officer (CIO) and Treasurer to head its Legacy Book Business, and the promotion of Steven M. Joenk to CIO. Braverman joined AXA in 2009 to lead its Derivatives & Hedging teams, which included the development and implementation of the company's derivatives and hedging strategies. Three years after joining the ... Read the full article
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
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
