R&Q pens loss portfolio transfer with self-storage insurer RepwestRandall & Quilter Investment Holdings (R&Q) has entered into a loss portfolio transfer (LPT) reinsurance contract and transfer agreement with the Amerco-owned Repwest Insurance Company.
QBE brings in GC to market $300mn NA legacy portfolioQBE is working with Guy Carpenter to find a legacy solution for a $300mn portfolio of the Australia-based carrier’s North American E&S business, The Insurer can reveal.
RenRe-Catalina legacy deal falls throughA proposed deal that would have seen legacy player Catalina provide an adverse development cover (ADC) for the back years of RenaissanceRe’s Lloyd’s Syndicate is not now going ahead, The Insurer can reveal.
QBE seeking $300mn NA E&S legacy portfolio transferAustralian carrier QBE is marketing a $300mn North American E&S portfolio to the legacy sector as the carrier seeks to bolster its balance sheet from any pandemic-induced economic fallout.
Enstar CFO Bowker resigns from positionEnstar has revealed that its CFO Guy Bowker is leaving the Bermudian legacy-to-live company.
Hallmark hires Willis Re to market auto legacy dealHallmark Financial and its broker Willis Re are in the early stages of a process to find a legacy solution to provide capital relief in relation to the binding primary auto book the US specialty carrier exited earlier this year, The Insurer can reveal.
R&Q shares climb 10 percent as European rally fizzles outShares in legacy acquirer and program specialist Randall & Quilter (R&Q) surged over 10 percent in afternoon trading in London after modest rallies across European equities fizzled out before US markets opened on Tuesday.
Catalina takes assets to $7.2bn as ACR takeover completesBermudian-headquartered legacy firm Catalina Holdings has completed its acquisition of Asia Capital Reinsurance Group (ACR), a move which will take its total assets to $7.2bn.
R&Q inks Part VII transfer of legacy portfolio with Anglo-FrenchLegacy specialist R&Q, through its wholly owned subsidiary R&Q Gamma, has completed the transfer of back-year US liability insurance underwritten by Anglo-French Ltd.
Lockton Capital Markets makes play for Lloyd’s business with London unitUS broking giant Lockton is building out its advisory and capital markets solutions arm, including the launch of a London-based operation, The Insurer can reveal.
R&Q launches £2mn share repurchase programmeLondon-listed legacy and program specialist R&Q has announced plans to repurchase up to £2mn ($2.5mn) of the company’s ordinary shares of 2 pence each.
Opening the floodgates?A court ruling on the first proposed IBT in Oklahoma could lead to a surge of activity in the $350bn US legacy market…
Legacy gross liability transfers reach $10.5bn in 2019: PwCPublicly announced run-off transfer deals in 2019 totaled $10.5bn in gross liabilities over 48 deals, marking a flat deal volume but a $1.5bn greater deal value than in 2018.
Enstar moves closer to first run-off transaction under new Oklahoma lawEnstar is seeking court approval for a legacy transaction in the US that is vying to be the first so-called insurance business transfer (IBT) under the new framework put in place by the state of Oklahoma in 2018, The Insurer can reveal.
Aspen secures $1.02bn ADC from EnstarAspen has entered into a multi-line adverse development cover (ADC) agreement with Enstar that will provide a total of $1.02bn of protection for a premium of $770mn to reinsure losses incurred prior to the start of this year.
Enstar hands Enhanzed Re 10% of Zurich legacy dealEnhanzed Re – Enstar’s Bermuda-based joint venture with Allianz and Hillhouse – has taken a 10 percent cut in the live-to-legacy player’s recently completed run-off transaction with European (re)insurance giant Zurich.
Hallmark considers legacy deal after $114mn binding primary auto book exitUS specialty insurer Hallmark Financial has put its $114mn book of binding primary auto business into run-off after experiencing increased claims severity from prior accident years.
James River says open to ADC for Uber run-off book, while shares rise over 6%Investors have sent James River’s share price up over 6 percent, following strong Q4 E&S premium growth and management’s comments that it is open to buying an adverse development cover (ADC) for its cancelled Uber book.
UK watchdog warns on market misconduct, cost base and global positionBritain’s Financial Conduct Authority (FCA) warned on Tuesday that non-financial misconduct in the London market poses risks to market integrity and raises questions about its ability to tackle inappropriate financial conduct.
Axa LM and RenRe strike deal for TMRe legacy bookAxa Liabilities Managers (Axa LM) has agreed to acquire a legacy book from RenaissanceRe which the (re)insurer inherited through its $1.5bn acquisition of Bermudian neighbour Tokio Millennium Re.