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Umpire Checklist: A Practical Guide for Commencing the Arbitration

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The following is a “laundry list” that includes as many opening data points as I have gathered through discussion with many arbitrators and in my own arbitrations.  Not all of these items will be necessary in every case, and I invite anyone who would like to add something to this list to contact me at connie@cdomaraconsulting.com. I. Kickoff Call with Panel Where is … [Read more...] about Umpire Checklist: A Practical Guide for Commencing the Arbitration

Bermuda firms dominate growing $1.1trn legacy market

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Bermudian-based run-off specialists such as Enstar are playing a central role in a global non-life legacy insurance market now estimated at about $1.1 trillion, according to a new report from AM Best. The ratings agency said the sector remained active and healthy but was becoming increasingly concentrated among a small group of specialist firms, many of which had a strong … [Read more...] about Bermuda firms dominate growing $1.1trn legacy market

Non-life insurance run-off deals – 2025 year-end review

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We saw 42 publicly announced non-life run-off insurance transactions in 2025, a notable increase compared to 2024 (33 deals) and 2023 (31 deals). This increase was driven by a particularly active Q4 2025, during which 14 transactions were announced. Despite this increase in deal numbers, estimated liabilities transferred were $5.4bn, below the $6bn to $8bn range that has … [Read more...] about Non-life insurance run-off deals – 2025 year-end review

Reinsurance News Bermuda Legacy Market Roundtable

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Welcome to the inaugural Reinsurance News Bermuda Legacy Market Roundtable, held in partnership with RiverStone International, one of the world’s leading providers of legacy solutions, on November 6th in Hamilton, Bermuda. The session brought together nine industry leaders and experts from across the space to reflect on the current state of the legacy market and consider its … [Read more...] about Reinsurance News Bermuda Legacy Market Roundtable

Using the Organizational Meeting to Build a Better Arbitration

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Arbitration clauses in most insurance and reinsurance contracts are remarkable for how little they say about the process. The most basic form of arbitration clause states only that, if a dispute arises, the parties will arbitrate rather than litigate. Exactly what “arbitration” means usually remains undefined. A typical clause may add a few barebones terms regarding the … [Read more...] about Using the Organizational Meeting to Build a Better Arbitration

The Evolution of the Legacy Sector with Katie Reynold

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Katie Reynolds is the Executive Director of AIRROC, the Association of Insurance and Reinsurance Run-Off Companies, the only U.S. nonprofit dedicated to promoting the interests of the legacy insurance and reinsurance community. She brings nearly a decade of experience in the legacy sector from claims leadership roles at RiverStone and The Hartford. An active AIRROC member since … [Read more...] about The Evolution of the Legacy Sector with Katie Reynold

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?

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