Randall and Quilter (R&Q) has completed a £30mn deal to take on the old Sportscover legacy book, now owned by Hamilton’s Lloyd’s platform in what is the second agreement of its type to be announced in less than a week.
Ryan Specialty Group, the MGA acquirer and wholesale broker led by Aon founder Pat Ryan, has acquired Lodestar Marine from Tawa, the run-off group backed by luxury brand billionaire Francois Pinault.
US insurance giant AIG has announced the creation of an enormous Bermuda-based legacy platform.
New Zealand-listed carrier CBL has had its shares suspended by the country’s stock exchange days after it announced a NZ$100mn reserve strengthening to deal with deteriorations in controversial Gibraltar-written French construction business.
The New Zealand (re)insurer CBL Corp has seen AM Best downgrade its financial strength rating below the watershed A- rating following revelations earlier this week that it was significantly under-reserved for a controversial class of French construction business written out of Gibraltar.
Enstar has swapped a portion of its own equity to take control of total return reinsurer KaylaRe.
Credit and financial risk carrier CBL Corporation is set to report a post-tax loss of between NZ$75mn and NZ$85mn ($55mn and $62mn) for 2017 after it said today (5 February) it would book a NZ$100mn reserve strengthening hit from a controversial class of French construction business written out of Gibraltar.
The slimmed-down and refocused legacy and programme management firm R&Q received a major boost late last week with confirmation that AM Best had awarded an A- (excellent) financial strength rating to its main European platform, R&Q Malta.
Enstar has won a bidding war to take on Novae’s £840mnn ($1.1bn) legacy book, the company announced today (29 January).
Bermudian reinsurer RenaissanceRe has signed a definitive agreement to acquire a minority stake in Catalina.
The size of the global run-off market has hit $730bn with North America responsible for almost half of that total, a new survey has revealed.
Tom Booth, the CEO-elect of the London-listed insurance group R&Q, has resigned as a director with immediate effect and will be leaving the organisation to “pursue alternative opportunities”, the firm announced this morning (8 January).