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Global Insurance Run-off Survey 2025

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In this edition of the Survey, we explore where we are in the legacy sector in relation to market developments, the challenges we’re seeing, as well as the opportunities. We have worked with our colleagues from across different disciplines and internationally to give a wider view on the market. We’ve taken a closer look at the role of private equity, capital appetite and the … [Read more...] about Global Insurance Run-off Survey 2025

Reinsurance Market Report: Results for Half-Year 2025

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Released twice a year, the Reinsurance Market Report gives in-depth analysis on the size and performance of the reinsurance industry, based on the 'Gallagher Reinsurance INDEX' group of companies. It provides an up-to-date picture on the global reinsurance industry's capital position and on reinsurers' profitability. Additionally, it provides Gallagher Re's expectations for … [Read more...] about Reinsurance Market Report: Results for Half-Year 2025

Enstar’s Cavello Bay sues Aspen for more than $400 million over alleged breach of reinsurance deal

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Enstar subsidiary Cavello Bay Reinsurance Limited is seeking damages of more than $400 million against Aspen Insurance Holdings in a U.S. lawsuit over an alleged breach of a reinsurance agreement. Cavello Bay alleges in the lawsuit, which it filed in the Connecticut Superior Court in the judicial district of New Britain, that Aspen breached multiple provisions of an amended … [Read more...] about Enstar’s Cavello Bay sues Aspen for more than $400 million over alleged breach of reinsurance deal

AI third-party administrator Elysian closes US$6m seed round

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AI-native third-party administrator (TPA) for commercial insurance, Elysian, has announced the closing of a US$6 million seed round led by Portage, with participation by both American Family Ventures and TenOneTen Ventures. Grace Hanson, a former lawyer and chief claims officer at Allied World, Homesite Insurance, Hiscox, and Hippo Insurance, founded the company in a bid to … [Read more...] about AI third-party administrator Elysian closes US$6m seed round

Best Practices for Responding to Umpire Questionnaires

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I have been asked to write about responding to umpire questionnaires and tracking cases for conflict review, including issues regarding affiliated companies and transferred books of business.  As is common practice, I have always kept an arbitration log, which grew in detail as disclosure requirements also grew. The log listings included the parties as I understood them, the … [Read more...] about Best Practices for Responding to Umpire Questionnaires

Umpires: The Good, the Bad, and the Ugly

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"It isn't enough for an umpire merely to know what he's doing. He has to look as though he knows what he's doing too." - National League Umpire Larry Goetz There is no question that the umpire plays a critical role in an arbitration to ensure a fair result for the parties. As the central force in the center chair, s/he basically runs the show and sets the tone for the entire … [Read more...] about Umpires: The Good, the Bad, and the Ugly

Swiss Re & Berkshire Hathaway move to the top of AM Best’s global reinsurer rankings

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Reinsurance giant Swiss Re has taken over from Munich Re at the top of AM Best’s ranking of the world’s largest reinsurers for companies that report under IFRS 17, with Berkshire Hathaway taking the top spot for non-IFRS 17 reporters, based on year-end 2024 figures. It’s important to remember that AM Best now ranks the top 50 global reinsurers in two lists. Companies that … [Read more...] about Swiss Re & Berkshire Hathaway move to the top of AM Best’s global reinsurer rankings

Dovetailing prospective & retrospective solutions the best use of legacy: Jass, Augment Risk

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In a recent interview with Reinsurance News, Jag Jass, Partner – Retrospective at reinsurance broker Augment Risk, explained that while there will always be a place for larger transactions targeting toxic liabilities and discontinued lines of business, legacy is best used when dovetailing an approach from a prospective and a retrospective standpoint. Jass joined Augment Risk … [Read more...] about Dovetailing prospective & retrospective solutions the best use of legacy: Jass, Augment Risk

Reinsurance News Legacy Market Roundtable 2025

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Around the annual meeting of the legacy re/insurance market in Brighton, UK, in May, we hosted our inaugural Legacy Market Roundtable, in partnership with global reinsurance company, Swiss Re, during which 11 experts from across the retrospective world discussed key trends, opportunities, and challenges for the market. In partnership with Swiss Re, the 2025 Reinsurance News … [Read more...] about Reinsurance News Legacy Market Roundtable 2025

Chamber Pushes for Reform as Foreign Investors Exploit U.S. Legal System Through Litigation Funding

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Comprehensive reforms are needed to address how third-party litigation funding (TPLF) operates within the federal tax and court system, according to the U.S. Chamber of Commerce Institute for Legal Reform (ILR), citing national security concerns and unfair competitive advantages for foreign investors. Current tax loopholes allow foreign funders to profit from American … [Read more...] about Chamber Pushes for Reform as Foreign Investors Exploit U.S. Legal System Through Litigation Funding

A leading financial centre and reinsurance hub

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Fundamental to Bermuda’s innovation culture is cooperation between government, regulator and industry, says Premier David Burt. Bermuda, while a small country by population and size, continues to prove that these factors do not limit us to small, local businesses. With our robust regulatory framework, investment in human capital, political and economic stability and a … [Read more...] about A leading financial centre and reinsurance hub

Are non-life Part VII transfers on the rise?

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In our previous briefing note from December 2023, we discussed the significant decline in the number of non-life Part VII transfers sanctioned in recent years and considered whether this trend was likely to continue. This update highlights the key developments from 2024 and anticipates future trends for 2025. Developments in 2024 As discussed previously, 2023 saw just two … [Read more...] about Are non-life Part VII transfers on the rise?

Legacy is a long-term business with relationships that go beyond reserves: Swiss Re’s Schilling & Schäfli

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Global reinsurance giant Swiss Re views legacy as a long-term business built on trusted relationships, and while positive steps have been taken to improve the resilience and perception of the market, there’s more work to do, according to Janic Schilling, Head Legacy Origination and Andreas Schäfli, Head of P&C Legacy, Swiss Re. In an interview with Reinsurance News, … [Read more...] about Legacy is a long-term business with relationships that go beyond reserves: Swiss Re’s Schilling & Schäfli

Legacy Re/Insurance in 2025: Stability, Strategy, and a Spotlight on Efficiency

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As we move into the second half of 2025 and start casting a cautious eye toward 2026, the legacy and run-off re/insurance market continues to play an increasingly pivotal role in the broader insurance ecosystem. No longer viewed as a quiet corner of the industry, the legacy sector is now a dynamic space where balance sheet optimisation, capital efficiency, and operational … [Read more...] about Legacy Re/Insurance in 2025: Stability, Strategy, and a Spotlight on Efficiency

I’m very positive on where the legacy market is and where it’s going: RiverStone International Group CFO

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After a “fantastic” 2024 underpinned by a progressive global buildout and impressive year-on-year growth across all key metrics, Andy Creed, Group Chief Financial Officer (CFO) and UK CEO of legacy acquirer RiverStone International, is “very positive” on where the run-off market is going. Last week, at the annual IRLA conference in Brighton, UK, we spoke with Creed about … [Read more...] about I’m very positive on where the legacy market is and where it’s going: RiverStone International Group CFO

Non-life insurance run-off deals – Q1 2025 review

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In contrast, deal activity across North America and the Rest of the World was relatively subdued in Q1. That said, conversations with market participants suggest that pipelines remain healthy in these territories, with brokers broadly optimistic about a pickup in legacy deal flow during the course of 2025. Many reinsurers reported strong 2024 earnings, bolstered by stellar … [Read more...] about Non-life insurance run-off deals – Q1 2025 review

The Role of Apology in Negotiations

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Negotiation Strategies: Tips for Establishing Connection and Optimizing Results Series: Part 8 In negotiations - whether in business deals, labor disputes, or diplomatic talks - language is currency. Words can bridge gaps or widen chasms. Among these words, a few stand out for their emotional weight and strategic complexity: “I’m sorry,” “I apologize.” Despite its simplicity, … [Read more...] about The Role of Apology in Negotiations

Intersection of legacy and ILS could drive deal flow in 2025: PwC

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According to PwC, the legacy insurance and reinsurance market continues to evolve, as highlighted by insurance-linked securities (ILS) transactions announced by legacy and run-off reinsurance specialist Enstar in the second half of 2024, while the firm also suggests that the convergence of traditional legacy and ILS “could be a source of future deal flow in 2025.” In a new … [Read more...] about Intersection of legacy and ILS could drive deal flow in 2025: PwC

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