AIRROC Update

Insurance & Reinsurance News

Latest News

Global Insurance Run-off Survey 2021

By

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 this survey has materialised, boosted by significant investment in both new and existing legacy players. The market has maintained its momentum, with over 100 legacy deals publicly … [Read more...] about Global Insurance Run-off Survey 2021

AIRROC Continues to Grow its Network!

By

AIRROC is pleased to announce the addition of two new members, BMS Group Ltd. and Fortitude Reinsurance Company Ltd., and Gallagher Bassett as a new Corporate Partner.  AIRROC looks forward to working together with BMS, Fortitude Re and Gallagher Bassett on a number of dimensions with the intention of delivering greater service to our shared communities of legacy … [Read more...] about AIRROC Continues to Grow its Network!

Help Us Rename the AIRROC Matters Newsletter!

By

AIRROC Matters is being rebranded to increase its appeal to professionals working in the legacy sector.  We would like your help in coming up with a fitting and catchy name! “AIRROC Matters” was the original name of our quarterly print magazine.  In August of 2019 we switched to a digital newsletter to enable us to publish more frequently and provide our audience with the most … [Read more...] about Help Us Rename the AIRROC Matters Newsletter!

NextGen Task Force Corner

By

The AIRROC NextGen Task Force is a diverse group of young professionals who work in conjunction with the AIRROC Board of Directors and Executive Director to explore ways to transfer knowledge about legacy, engage with and provide networking and educational opportunities for the next generation of legacy industry and AIRROC association leaders.   As part of our communication … [Read more...] about NextGen Task Force Corner

AIRROC Confirms Board Leadership and New Directors for 2021

By

AIRROC announces the 2021 board leadership.  The officers are Chair Bill Teich (The Hartford) and the two Co-Vice Chairs are Bill Goldsmith (AIG) and Betsy Mitchell (Armour Risk).    Marianne Petillio (ROM Re) serves as Treasurer and Megan McHugh, Brandywine Holdings acts as the Secretary of the Board. The Chair (Teich) and two Co-Vice Chairs (Goldsmith and Mitchell), … [Read more...] about AIRROC Confirms Board Leadership and New Directors for 2021

Acquisition of Vibe Lloyd’s interest

By

Randall & Quilter Investment Holdings Ltd. (‘R&Q’ or ‘the Group’) is pleased to announce that its wholly owned subsidiary, Randall & Quilter II Holdings Limited, has signed an agreement to acquire, subject to regulatory approval, the entire issued share capital of Vibe Services Management Limited (‘Vibe Services’), Vibe Corporate Member Limited (‘VCML’) and Vibe … [Read more...] about Acquisition of Vibe Lloyd’s interest

Enstar Announces Reinsurance Transaction With ProSight

By

HAMILTON, Bermuda, Jan. 15, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly owned subsidiaries has entered into an agreement with subsidiaries of ProSight Global, Inc. (“ProSight”) to provide reinsurance relating to 2019 and prior year business. The reinsurance will comprise a ground up loss portfolio transfer of ProSight’s … [Read more...] about Enstar Announces Reinsurance Transaction With ProSight

MetLife to Sell Auto & Home Business to Zurich Insurance Group Subsidiary Farmers Group, Inc. for $3.94 Billion

By

NEW YORK, December 11, 2020 MetLife, Inc. (NYSE: MET) today announced that it has signed a definitive agreement to sell Metropolitan Property and Casualty Insurance Company and certain wholly owned subsidiaries to Farmers Group, Inc. (FGI), a subsidiary of Zurich Insurance Group, for $3.94 billion in cash, subject to the terms therein. FGI has informed MetLife that it will … [Read more...] about MetLife to Sell Auto & Home Business to Zurich Insurance Group Subsidiary Farmers Group, Inc. for $3.94 Billion

Notice of Direct Scheme Meeting and Notice of General Scheme Meeting of Stronghold Insurance Company Limited (In Administration)

By

NOTICE OF THE DIRECT SCHEME MEETING IN THE HIGH COURT OF JUSTICE BUSINESS AND PROPERTY COURTS OF ENGLAND AND WALES INSOLVENCY AND COMPANIES LIST (ChD) CR-2020-004278 STRONGHOLD INSURANCE COMPANY LIMITED (IN ADMINISTRATION) AND IN THE MATTER OF THE COMPANIES ACT 2006 NOTICE IS HEREBY GIVEN that, by an order dated 16 December 2020 made in the High Court of Justice, … [Read more...] about Notice of Direct Scheme Meeting and Notice of General Scheme Meeting of Stronghold Insurance Company Limited (In Administration)

NAIC Adopts New Rule Allowing Rebating

By

The NAIC Executive Committee unanimously adopted an amendment to the NAIC Unfair Trade Practices Model Act (Model Law #880) on December 9, 2020.  This amendment will allow insurers and producers to “rebate” consumers.  With the exception of California and Florida, and until most recently, states have enforced strict anti-rebating laws, considering non-compliance as a serious … [Read more...] about NAIC Adopts New Rule Allowing Rebating

Argo Group Announces Agreement to Sell Ariel Re to Pelican Ventures and J.C. Flowers

By

Hamilton, Bermuda – Nov. 2, 2020 – Argo Group International Holdings, Ltd. (NYSE: ARGO), an underwriter of specialty insurance and reinsurance products, today announced an agreement to sell its reinsurance business, Ariel Re, to Pelican Ventures and J.C. Flowers & Co., both private equity investors with significant insurance expertise. Closing of the transaction is subject … [Read more...] about Argo Group Announces Agreement to Sell Ariel Re to Pelican Ventures and J.C. Flowers

Arch Capital Group Ltd. and Watford Holdings Ltd. Enter into Revised Merger Agreement 

By

PEMBROKE, Bermuda--(BUSINESS WIRE)-- Arch Capital Group Ltd. (NASDAQ: ACGL) (“Arch” or “the Company”) and Watford Holdings Ltd. (NASDAQ: WTRE) (“Watford”) today announced a revised definitive agreement under which Arch will acquire all of the common shares of Watford for an increased price of $35.00 per share. This revised all-cash consideration is valued at approximately $700 … [Read more...] about Arch Capital Group Ltd. and Watford Holdings Ltd. Enter into Revised Merger Agreement 

AIRROC Awards Trish Getty Scholarship 9th Annual Award Recipient Ashley Martin

By

AIRROC awarded it’s annual Trish Getty Scholarship to Ashley Martin, a junior with a double major in Risk Management and Accounting at Saint Joseph’s University in Philadelphia. In a first for AIRROC, the award was presented virtually by Executive Director Carolyn Fahey and while Ms. Martin could not participate in the live stream, she graciously thanked AIRROC in a … [Read more...] about AIRROC Awards Trish Getty Scholarship 9th Annual Award Recipient Ashley Martin

Insurance in the Working from Home Age

By

The Jacobson Group’s Judy Busby, Senior Vice President, and Brett Carter, Managing Director, hosted this insightful session. They addressed the current state of the insurance industry’s labor market and the multi-generational makeup of its workforce.  The presentation was followed by a panel discussion moderated by Judy Busby, featuring a multi-generational panel of … [Read more...] about Insurance in the Working from Home Age

AIRROC Person of the Year 2020: Paul Corver, Group Head of M&A Randall & Quilter

By

One key highlight of the AIRROC annual Transactions & Networking Forum is the presentation of the Person of the Year Award.  The award gives our band of brethren a chance to acknowledge and celebrate the vision, energy, and leadership of those in our business who play a key role in influencing our work and how the investment community perceives the value of our work.   This … [Read more...] about AIRROC Person of the Year 2020: Paul Corver, Group Head of M&A Randall & Quilter

The CFO Perspective

By

Day 1 of our October 2020 meeting saw Scott Maries - CFO of Premia Re, Simon Hawkins – former CFO of Compre, and John Regan – CFO of Swiss Re of America, put on a presentation, moderated by Kelly Superczynski – Aon’s Head of Capital Advisory.  The discussion covered everything from legacy balance sheet and reporting matters, to raising capital, and the pace and trends in the … [Read more...] about The CFO Perspective

Insights on Legacy in 2020

By

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, Armour Risk Management (Moderator), Paul Ginnett, CEO, Allianz Reinsurance America, Inc., Linda Johnson, Head of Legacy Practice, TigerRisk and Matt Kunish, Chief Business … [Read more...] about Insights on Legacy in 2020

LinkedIn