Sailboat in the Hamilton, Bermuda, harbor copy

Apollo launches new Bermuda reinsurer Acra Re


Heavyweight investment firm Apollo Global Management has formed a new Bermudian (re)insurer, which is expected to be used as a platform for writing large P&C and life trades, can reveal.


Darag inks its first US deal as it partners with SOBC


Run-off acquirer Darag has entered a joint venture with US-based SOBC in a bid to grow beyond its European heartland into the North American, Caribbean and Bermudian legacy markets.


Legacy acquirer Armour builds out M&A team with two hires


Run-off specialist Armour has appointed Ranbeer Bhatia and Andrea Piatti.


New Nordic to sue Echelon for Qudos M&A ‘fraud’


Scandinavia-focussed alternative investor New Nordic says it is poised to sue the former owner of its Danish insurer Qudos for “misrepresentative and fraudulent acts” following its acquisition of the carrier in 2017.

Talcum powder

The Hartford’s talcum powder liabilities excluded from Nico $1.5bn ADC


Berkshire Hathaway has excluded talcum powder-related exposures from the $1.5bn adverse development cover (ADC) it struck with The Hartford in late 2016.

Hamburg rathaus

Darag scores EUR260mn boost from private equity pair


Run-off acquirer Darag has earned a EUR260mn ($303.4mn) investment from a pair of private equity houses just a week after its new CEO Tom Booth took his seat in the office.


Axa’s legacy arm takes Novae’s Hennessey


Axa Liabilities Managers has hired Novae’s former head of commutations and reinsurance claims Steve Hennessey, can reveal.

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Darag confirms Booth as next chief exec


German legacy acquirer Darag has confirmed the appointment of former R&Q finance boss Tom Booth as its next CEO.