Run off
Stephen Catlin given the prestigious Achievement Award at the 2017 British Insurance Awards
Described as “a true statesman of our industry”, Stephen Catlin was a worthy winner of the achievement award at the 2017 British Insurance Awards last night.
Compre launches Maltese insurance company
Compre is to establish an insurance company in the Republic of Malta.
Darag names Stuart Davies chairman
European run-off insurance company Darag has named Stuart Davies as chairman of the group.
Lloyd’s syndicate Pro Sight goes into run-off
Lloyd’s insurer Pro Sight has been placed into run-off, the corporation has confirmed.
Compre buys W&W's Ridgwell Fox legacy business
Compre is to acquire Wüstenrot & Württembergische's share of the Ridgwell Fox pool legacy reinsurance business.
AIG strikes $34bn legacy deal with Berkshire Hathaway's NICO
AIG has agreed a $34bn (£27bn) legacy deal with National Indemnity Company, a subsidiary of Berkshire Hathaway.
Compre takes on RW Gibbon legacy book
Insurance and reinsurance legacy specialist Compre has acquired a legacy business portfolio from Swiss Re International.
Compre acquires UK business of AG Insurance
Insurance and reinsurance legacy specialist Compre has acquired the UK business in run-off of the Belgian (re)insurer AG Insurance for an undisclosed sum.
Liquidator to Gable appoints run-off manager
The liquidator of Gable has appointed Enstar as run-off manager.
Catalina buys run-off Allianz book
Bermuda-based Catalina Holdings has purchased AGF Insurance Limited.
R&Q acquires RLGI run-off
Randall and Quilter has acquired RLGI, a UK non-life insurance company in run-off, from Royal London Mutual Insurance Society.
Europe: The run-off opportunity
The $250bn (£175bn) European insurance run-off market is now big business.
Europe: The year ahead for run-off business
Solvency II, the growing legacy market and expanding run-off activity are among the main challenges facing discontinued insurance business in Europe.
R&Q completes IC Insurance purchase
Randall & Quilter has completed its acquisition of IC Insurance for £17m, a London Stock Exchange note has confirmed.
European run-off market to be worth £181bn this year
The non-life European legacy insurance market is estimated to reach run-off reserves worth €247bn (£181bn) this year, an increase of €5bn compared to 2014, according to PWC.
Former Towergate business Folgate returns to active underwriting
Former Towergate-owned Folgate Insurance has returned to active underwriting in the UK and Europe one year after being acquired by APC Underwriting.
Further insurer run-off expected in Gibraltar as others plot arrival on The Rock
Several Gibraltar-based firms in danger of entering run-off are under intense regulatory scrutiny, according to market insiders, while the British overseas territory's financial watchdog says it has a number of interested parties on the hook to establish…
Indemnity Guarantee Assurance enters administration
PWC has been appointed the administrator to Indemnity Guarantee Assurance which was placed into administration on 23 March after directors deemed it to be insolvent.
R&Q completes Norwegian portfolio transfer
Randall & Quilter has completed a portfolio transfer from Norway-domiciled captive Aker Insurance to R&Q's EU run-off consolidator in Malta.
Solvency II cited as driving factor behind growth of run-off market
The implementation of Solvency II has been attributed by consultancy firms as a driver in the continuation of the steady stream of UK and European insurers looking to dispose of underperforming lines of business.
UK expected to lead on Solvency II related disposals in 2015
The impact of the Solvency II directive has been attributed for an expected sixth year of growth in the European run-off market, according to PWC’s annual survey.
Compre expands German footprint with HIR acquisition
Reinsurance legacy specialist Compre has completed the acquisition of Hamburger Internationale Rückversicherung from Tawa after obtaining approval from German regulator BaFin.
Europe: The run-off legacy
The run-off market looks set to consolidate its position in Europe, a trend borne out by a Clyde & Co survey which found 60% of insurer respondents expect to complete a deal in Europe in the next 12 months.
European appetite for run-off deals set to grow, survey finds
France and Germany have been tipped as the most likely European countries to see run-off deals completed, according to insurance industry respondents to a Clyde & Co survey.