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.
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
Lockton Re adds Dickerson as Head of Retrospective Reinsurance & Legacy Solutions
9th April 2025
Lockton Re, the reinsurance arm of independent insurance broker Lockton, has appointed James Dickerson in a global role as Head of Retrospective Reinsurance & Legacy Solutions, strengthening its Capital Advisory Practice. Dickerson will be based in the company’s London office. Since 2021, he has served at reinsurance broker Gallagher Re as ... Read the full article
DARAG signs PTA with Protector for Danish workers’ comp portfolio
4th April 2025
Legacy acquirer DARAG Group has announced that its German insurance carrier, DARAG Deutschland AG, has entered into a portfolio transfer agreement (PTA) with Protector Forsikring ASA for its entire Danish workers’ compensation portfolio, enabling Protector to fully exit this line of business. The transaction, subject to regulatory approval in Norway and ... Read the full article
DARAG announces Loss Portfolio Transfer deal with Soteria
26th March 2025
Legacy acquirer DARAG Group has signed an agreement with UK-based insurer Soteria Insurance Limited (SIL), formerly the underwriting arm of the Co-operative Group. Under the Loss Portfolio Transfer (LPT), DARAG Deutschland AG will reinsure a portfolio of UK commercial policies in run-off written by SIL, previously known as CIS General Insurance ... Read the full article
Enstar agrees $196m LPT with Atrium for discontinued portfolios
14th January 2025
Legacy specialist Enstar Group Limited's Lloyd's Syndicate 2008 has agreed a $196 million ground-up loss portfolio transfer (LPT) with Atrium Syndicate 609, relating to business underwritten in the 2023 and prior years of account. This LPT transaction involves Atrium Syndicate 609's discontinued portfolios, comprised of marine treaty reinsurance, property treaty reinsurance, ... Read the full article
DARAG acquires run-off portfolio from wefox Insurance AG
14th January 2025
Legacy acquirer DARAG Group and wefox Insurance AG, the Liechtenstein-based insurer of wefox Group, have announced the transfer of a run-off portfolio, which includes Motor Damage, Third Party Liability, Private Liability, and Property business across Germany, Italy, and Switzerland. This transfer is part of the previously announced sale of wefox ... Read the full article
Enstar completes $75m legacy reinsurance agreement with James River
24th December 2024
The previously announced $75 million adverse development cover (ADC) reinsurance agreement between a wholly owned subsidiary of legacy player Enstar Group and certain subsidiaries of Bermuda-domiciled insurance holding company, James River Group Holdings, has been completed following receipt of the relevant regulatory approval and satisfaction of the other closing ... Read the full article
Enstar enters into additional $75m legacy reinsurance agreement with James River
12th November 2024
A wholly owned subsidiary of legacy player Enstar Group has entered into a $75 million adverse development cover (ADC) reinsurance agreement with certain subsidiaries of Bermuda-domiciled insurance holding company, James River Group Holdings. Under the terms of the agreement, Enstar will provide the $75 million of limit in excess of the ... Read the full article
Resurgence in legacy deals in Q3’24, reports PwC
8th November 2024
The third quarter of 2024 saw a significant rise in non-life insurance run-off deals, with 15 transactions—almost double the number in the first half of the year—bringing the total to 23 for the year so far, according to a recent PwC report. PwC highlights that North America was the most active ... Read the full article
Legacy market remains strong with North America leading bounceback: PwC
9th September 2024
Despite an unsettled 12 months, recent deal activity heavily suggests that the market for legacy transactions remains strong, with the North American market in particular showing resilience, bouncing back after a quiet 2023. A new analysis from PwC shows that the 13 North American deals involving over $3 billion of liabilities ... Read the full article
Legacy carriers integral to the insurance landscape, says IRLA Chairman
6th September 2024
The legacy insurance market is evolving, with the strongest players continuing to adapt and thrive, reinforcing their critical role in the global re/insurance industry, says Kevin Gill, Chairman of the Insurance & Reinsurance Legacy Association (IRLA). Speaking ahead of the Monte Carlo Rendez-Vous, Gill emphasised that legacy carriers are becoming essential ... Read the full article
Legacy liability venture Sophrosyne Partners launches
4th September 2024
A new vehicle called Sophrosyne Partners LLC has been launched to provide European and North American corporates with finality solutions, designed to benefit all stakeholders in the liability chain. Sophrosyne has been founded by legacy liability management professionals, who have a combined more than five decades of relevant experience. The venture will ... Read the full article
Enstar reports $126m net income with ROE of 2.5% in Q2’24
30th July 2024
Global insurance group Enstar has reported net earnings of $126 million for the second quarter of 2024, a substantial increase from $21 million in Q2 2023. The company's return on equity (ROE) improved to 2.5% this quarter, compared to 0.5% from the previous year, while adjusted ROE was 2.9% for the ... Read the full article
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