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The Scope of an Arbitration Panel’s Authority

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Raymond Mastrangelo, a Partner with Mound Cotton Wollan Greengrass LLP, moderated a panel discussion with three of the insurance and reinsurance arbitration community’s most experienced and respected arbitrators:  Susan Claflin, Claflin Consulting Services LLC, Ann Field, Senior Managing Director of Client Services, Aon, and Howard Page, HR Page Consulting LLP.  The panel topic … [Read more...] about The Scope of an Arbitration Panel’s Authority

A Look at the Legal Landscape

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The education sessions of the 2021 Summer Membership Meeting began with “A Look at the Legal Landscape” of COVID-19 Business Interruption (“BI”) claims, presented by John O’Bryan, Partner, Freeborn & Peters, Michael Merlo, Executive Vice President and Chief Counsel, Aon, and Kay E. Wilde, Director of Reinsurance Assumed Claims, Allstate Insurance Company.  The panel treated … [Read more...] about A Look at the Legal Landscape

Under the Radar Potential Game Changers: Were you aware of these??

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The second session of the 4th annual Runoff Deal Market Forum focused on some of the less obvious legal, regulatory and NAIC developments that will likely impact the runoff deal landscape.  The esteemed panel included Mayer Brown partner Larry Hamilton who heads the firm’s US Insurance Regulatory & Enforcement group, James Mills, Vice President and Legal Counsel of Enstar … [Read more...] about Under the Radar Potential Game Changers: Were you aware of these??

Enstar Announces Two Transactions with Hillhouse

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HAMILTON, Bermuda, July 15, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that it has entered into an agreement to repurchase an aggregate of 3,749,400 ordinary shares of Enstar held by funds managed by Hillhouse Group (“Hillhouse”) for a price of $234.52 per share, totaling $879.3 million in aggregate, a discount to book value. The shares … [Read more...] about Enstar Announces Two Transactions with Hillhouse

Insurance M&A deals reach $24.6B in first-half 2021

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“The pace and magnitude of insurance dealmaking continued to accelerate in the first half of the year as sellers look to capitalize on the high valuations driven by strong demand for insurance businesses,” Mark Friedman, PwC insurance deals leader, said in a statement. (Photo: nespixt/Adobe Stock) Five megadeals in the first half of 2021 are just the beginning of what’s … [Read more...] about Insurance M&A deals reach $24.6B in first-half 2021

Completion of Four Portfolio Transfers

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Randall & Quilter Investment Holdings Ltd, (AIM-RQIH) (“R&Q”), the leading non-life global speciality insurance company focusing on Program Management and Legacy Insurance businesses, is pleased to announce the completion of the novation of four loss portfolio transfer agreements managed by Armour Risk Management Ltd previously in place between ILS P&C Re and … [Read more...] about Completion of Four Portfolio Transfers

Enstar Reinsures Hiscox Legacy Portfolio

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HAMILTON, Bermuda, June 03, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announces today that one of its wholly owned subsidiaries has completed a Loss Portfolio Transfer with Hiscox Ltd (“Hiscox”), pursuant to which Enstar’s Syndicate 2008 has reinsured a diversified portfolio of legacy insurance business underwritten by Hiscox Syndicate 3624, including the … [Read more...] about Enstar Reinsures Hiscox Legacy Portfolio

Reinsurance rate growth to boost run-off market: KBW

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According to reports from Keefe, Bruyette & Woods (KBW), industry executives are optimistic about the prospects for the run-off reinsurance market, which they say should benefit from rising pricing trends. KBW recently hosted a series of meetings with Florida and Bermuda re/insurance executives about their outlook on various sectors of the market. One of the key … [Read more...] about Reinsurance rate growth to boost run-off market: KBW

Developments in Restructuring Plans and Cross-Class Cram Down: Virgin Active

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The English High Court has sanctioned the restructuring plans proposed by the Virgin Active group following a hearing contested by a group of the gym chain's landlords. The decision represents the first use of the restructuring plan procedure, introduced during the summer of 2020, to restructure a lease portfolio, demonstrating the utility of the tool for debtors when … [Read more...] about Developments in Restructuring Plans and Cross-Class Cram Down: Virgin Active

NextGen Task Force Corner

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The AIRROC NextGen Task Force continues to evolve in order to optimize operations and improved effectiveness. The Task Force was formed in early 2020 during a pivotal time where prolonged remote working arrangements were not anticipated. While the original committee structure was focused on translating the Task Force’s mission statement into actionable functional areas, the … [Read more...] about NextGen Task Force Corner

AIRROC is Now On Demand!

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A brand new way for AIRROC members to access our sought after education content. Recorded content is available in modules along with a PDF of supporting slides and other resources if made available by the panelists. The library is organized by individual titles, is tagged by subject, is searchable by word, and can be filtered by a number of tags. There are more than 30 … [Read more...] about AIRROC is Now On Demand!

The Basic Cybersecurity Controls that Every Company MUST have

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When it comes to cybersecurity, companies must not underestimate the importance of basic controls. Employees and employers are exposed in the pandemic-induced work from home environment to new cyber risks, raising the stakes for cyber best practices and education. Cyber criminals typically follow a playbook where they seek out the lowest hanging fruit. They’re attacking … [Read more...] about The Basic Cybersecurity Controls that Every Company MUST have

State Regulatory Responses to the COVID-19 Pandemic: Mitigating Risk for Businesses and Individual Insureds

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The widespread effects of the Coronavirus 19 (COVID-19) pandemic have been unlike anything the world has experienced in more than a century. Governments worldwide have been forced to grapple with this unprecedented scenario and many have implemented measures aimed not only at curtailing the spread of the virus, but also designed to aid individual insureds and businesses to … [Read more...] about State Regulatory Responses to the COVID-19 Pandemic: Mitigating Risk for Businesses and Individual Insureds

Embedding Racial Equity in the Insurance Industry

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On April 21, 2021, AIRROC was thrilled to host a webinar during which a panel of experts in the field of diversity, equity and inclusion (“DEI”) convened for a frank discussion on racial equity in the insurance industry.  The panelists were: Brett Carter, MBA, a Managing Director for The Jacobson Group's executive search team, where he manages C-Level, vice president and … [Read more...] about Embedding Racial Equity in the Insurance Industry

Aon, Willis Towers Watson to Sell WTW Assets to Gallagher for $3.57 Billion

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Aon plc and Willis Towers Watson have agreed to sell Willis Re and a set of Willis Towers Watson corporate risk and broking and health and benefits services to Arthur J. Gallagher & Co. These businesses will be divested for a total consideration of $3.57 billion. The agreement helps resolve questions raised by the European Commission and is intended to address certain … [Read more...] about Aon, Willis Towers Watson to Sell WTW Assets to Gallagher for $3.57 Billion

Enstar Completes Transaction with AXA LX

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HAMILTON, Bermuda, May 03, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly owned subsidiaries has completed a transaction with AXA XL, a division of AXA, to provide adverse development cover. In the transaction, Enstar’s subsidiary assumed reinsurance losses incurred on or prior to December 31, 2019 on a diversified mix of … [Read more...] about Enstar Completes Transaction with AXA LX

DARAG announces reinsurance agreement with Lyft Captive

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Release Date: 05 May 2021 DARAG Group Limited (“DARAG”), a leading legacy acquirer, today announces it has executed a reinsurance transaction (‘LPT’) with Pacific Valley Insurance Company (“PVIC”), Lyft Inc’s (“Lyft”) captive insurance company. The LPT, written through DARAG Bermuda Ltd, covers PVIC’s commercial auto liabilities (predominantly from an excess layer for … [Read more...] about DARAG announces reinsurance agreement with Lyft Captive

How COVID Impacts Insurance in Unforeseen Ways

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Having recently marked the one-year anniversary of the COVID-19 pandemic, it seems like an opportune time to consider how the pandemic has impacted the insurance industry. While business interruption (BI) lawsuits (totaling more than 1,500 as of March 31, 2021) have dominated the headlines, the pandemic’s effects stretch far beyond BI claims. Indeed, the pandemic has impacted … [Read more...] about How COVID Impacts Insurance in Unforeseen Ways

Uncertainty > Risk: Lessons for Legal Thought from the Insurance Runoff Market

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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 distribute determinable risks through contracts that fix the parties’ obligations in advance. This ideal type has normative appeal because, among other reasons, it explains how … [Read more...] about Uncertainty > Risk: Lessons for Legal Thought from the Insurance Runoff Market

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