Lloyd’s insurer Barbican has instructed Aon Benfield to evaluate third-party reinsurance to close (RITC) quotes for its back-year liabilities, re-Insurance.com can reveal.
Will Bridger and Mark Lawson have taken over as joint CEOs at run-off specialist Compre.
R&Q’s US insurer Accredited Surety & Casualty Company (Accredited) has inked a new program partnership deal for 2018 and predicts a flurry of additional transactions in the next few months.
German legacy acquirer Darag has approached Tom Booth, who was on the cusp of becoming the CEO of R&Q, to take the helm after a EUR100mn capital raise, re-Insurance.com understands.
Lloyd’s insurer Barbican and broker Howden have become the latest to find themselves ensnared in the growing construction liability crisis, re-Insurance.com understands.
Legacy acquisition heavyweight Catalina paid The Hartford $272mn last year to acquire its UK run-off businesses, a sum which suggests a discount to their book value.
Run-off giant Catalina has upped its stake in AmTrust’s sister company Maiden, a live-market Bermudian reinsurer, a regulatory filing shows.
Legacy acquisition specialist Darag has partnered with managing general agent- and insurance company- owner New Nordic in move that will allow the run-off buyer to take on run-off books which also contain live business.
Generali’s chief executive for Germany Giovanni Leverani has suggested that the company may use the proceeds from its run off of its local life business to fund acquisitions in the P&C sector.
Private equity-owned legacy acquirer Darag is looking to raise around EUR100mn as it seeks to grow its war chest and conduct more sizeable deals, re-Insurance.com understands.
Insurance fund manager Twelve Capital is at risk of losing its EUR20m ($24.6mn) investment in Danish insurer Alpha, which was put into run-off earlier this month.
Alpha Insurance – the Danish insurer that entered run-off earlier this week – had planned to form a licenced UK insurance company, re-Insurance.com can reveal.