Living in the world of run-off

The reinsurance market is seeing increased activity in the run-off sector. Unlike a decade earlier, today's run-off is no longer synonymous with insolvency - many perfectly solvent reinsurers may seek to exit a class of business if it is not consistent with their business strategy. In an environment of stricter capital-adequacy requirements and an increasing influence of rating agencies, companies often view run-off as a form of capital management, enabling them to free up capital and then r