Inflection Point: COVID-19 and resulting balance sheet pressures spur hunt...
With mounting novel coronavirus (COVID-19) liabilities straining insurers’ and reinsurers’ balance sheets, the pressing need to free the capital tied up in legacy portfolios can no longer be ignored....
View ArticleEnstar Plan marks milestone proof of concept for US insurance business transfers
Court approval of an insurance business transfer (IBT) between two Enstar Group Limited affiliates provides a useful proof of concept for this legacy solution in the US. IBT provides insurers with an...
View ArticleFinality at Last. The First U.S. IBT is Complete
By On October 15th, 2020, the Oklahoma County District Court entered a Judgment and Order approving the first ever Insurance Business Transfer (“IBT”) in the United States.1 Much has been written and...
View ArticleInsights on Legacy in 2020
The Panelists for the first education session of our virtual Transactions & Networking Forum included: Paul Corver, Group Head of M&A, R&Q, Marcus Doran, EVP, Group Complex Claims Officer,...
View ArticleCaptive International US Focus 2020
Captive International reports on the increasingly vibrant US legacy market, where captives are divesting themselves of older liabilities to focus on new opportunities. Check out the “Embace your...
View ArticleGlobal Insurance Run-off Survey 2021
Welcome to the thirteenth edition of PwC’s Global Insurance Run-off Survey, which has been produced in conjunction with IRLA and AIRROC. The growth in legacy activity predicted in the last edition of...
View ArticleCreating Value in Runoff through Collaboration with Insurtech
In 2020 over $7 billion was invested globally in insurtechs as cited by Paul Chen, Partner at Mayer Brown, who moderated the educational session, “Creating Value in Runoff through Collaboration with...
View ArticleMarket Capacity – What Does it Mean for the Legacy Market?
The Panelists for the first education session of day two of our virtual Spring Membership Meeting included Michelle Harnick, Managing Director, Guy Carpenter David Luce, Partner, DLA Piper and Ed...
View ArticleThe Non-InsurTechs – How Technology Focused InsurTechs Are Changing the Face...
The 2021 AIRROC Spring Meeting was kicked off by the rise of the InsurTechs presentation given by Brian T. Casey and Benjamin P. Sykes of Locke Lord LLP, Cole Winans of Flyreel and Brent Williams of...
View ArticleUncertainty > Risk: Lessons for Legal Thought from the Insurance Runoff Market
Abstract: Insurance ideas inform legal thought: from tort law, to health law, to theories of distributive justice. Within legal thought, insurance is often conceived as an ideal type in which insurers...
View ArticleOklahoma Insurance Department Announces Inaugural Captive & Insurance...
OKLAHOMA CITY – Risk managers, business owners, regulators, financial executives and insurance professionals are invited to attend the Oklahoma Insurance Department’s (OID) first Captive &...
View ArticleAnother Sunshine State Insurer Falls: Southern Fidelity Enters Receivership
Southern Fidelity Insurance Company has entered into receivership and is being liquidated, according to the Florida Office of Insurance Regulations (FLOIR). The state’s insurance office made the move...
View Article“Strong momentum in run-off sector continues”- PWC
Strong momentum in the non-life run-off sector last year continued into 2022 with the announcement of eleven deals, says a new report from PWC. The professional services firm said that while the number...
View ArticleEstimated global non-life run-off reserves rise 11% to US$960bn
Global non-life run-off reserves estimated to have reached US$960bn An additional estimated US$68bn of legacy liabilities are held on the balance sheets of non-insurance corporations Loss portfolio...
View ArticleWhere AI Can Make Dramatic Impacts in Run-Off Transactions
The 2023 Spring Membership Meeting education program included a presentation on the hot topic of artificial intelligence. Rooney Gleason, Chief Insurance Officer at Evolution IQ and Adam Fisher, Chief...
View ArticleNon-life insurance run-off deals review Q1 2023
Q1 2023 saw a number of super-sized non-life runoff transactions being announced continuing the trend observed in our 2022 year-end Deals review. 11 deals in total were disclosed in this period, whilst...
View ArticleLegacy Roundtable and Survey 2023
I have moderated our annual legacy roundtable for several years now, and there is a comforting familiarity which comes with it. Because in many ways, it is pretty much always the same. The occasion –...
View ArticleGlobal Insurance Run-Off Survey 2023
The PwC 2023 Global Insurance Run-Off Survey is here! The key takeaway is that the global non-life run-off reserves are estimated to exceed $1 trillion, yes that’s $1 trillion. Read Here… The post...
View ArticleThe Use of AI in Workers Compensation Legacy Transactions
Michael Terelmes, Managing Director-USA, Compre Group, moderated a panel on “The Use of AI in Workers Compensation Legacy Transactions” at the AIRROC Spring Membership Meeting. Panelists included...
View ArticleNew Trends in Workers Comp Drugs: Unintended Consequences of the Changing...
The opioid epidemic has had a devastating impact on society and a profound toll on public health and opioid-involved deaths. The multifaceted aspects of the opioid crisis have had an effect clinically,...
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