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In Continental Europe, Legacy Transfer is a Tool for Operational Efficiency as Digitalisation Costs Increase

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This article first appeared in Insurance Day on the 10th of March 2020 Continental European insurance groups are turning to legacy transactions to reduce the cost and disruption to their      business of digital transformation.  The European legacy market is maturing – and it is operational efficiency that is becoming more and more of a key … [Read more...] about In Continental Europe, Legacy Transfer is a Tool for Operational Efficiency as Digitalisation Costs Increase

Asia, LatAm and the Middle East Ripe for Captive Growth: CICA Board Chair

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The number of captives in emerging markets could be set to grow in coming years, with countries in Asia, Latin America and the Middle East seeing an increasing number of launches. Read more here - https://www.captiveinternational.com/news/asia-latam-and-the-middle-east-ripe-for-captive-growth-says-cica-board-chair-3368   … [Read more...] about Asia, LatAm and the Middle East Ripe for Captive Growth: CICA Board Chair

DARAG Announces Completion of Dual Acquisitions in UK Expansion

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DARAG Transaction Group Limited, a leading legacy acquirer, has announced the completion of the acquisitions of both The  Underwriter Insurance Company  Limited, a UK-based insurer in run-off, and of the previously announced Sale and Purchase Agreement with One Re Ltd, a London-based non-life reinsurance company. Read the full article here - … [Read more...] about DARAG Announces Completion of Dual Acquisitions in UK Expansion

Run-off Specialist Fleming Re Acquires AggCap II

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Fleming Re Holdings LLC (“Fleming Re”) recently completed the acquisition of AggCap Insurance, Ltd – AggCap II (“AggCap II”), a group captive in run-off providing workers compensation insurance for a large membership of California-based agribusinesses.  The acquisition provides members of AggCap II with full legal finality, elimination of operating expenses, and a release of … [Read more...] about Run-off Specialist Fleming Re Acquires AggCap II

Darag Announces Reinsurance Agreement with Lloyds Syndicate

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15 January 2020 – DARAG Group Limited (“DARAG”), a leading legacy acquirer, today announces the conclusion of a transaction with a leading Lloyd’s syndicate to provide reinsurance for a US liability book. The reinsurance will be provided via DARAG’s Maltese risk carrier, DARAG Malta Insurance and Reinsurance PCC Ltd. Read the full article here - … [Read more...] about Darag Announces Reinsurance Agreement with Lloyds Syndicate

AIRROC Confirms Board Leadership and New Directors for 2020

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AIRROC announces the 2020 board leadership.  The officers are Chair Bill Teich (The Hartford) and Co-Vice Chair Bill Goldsmith (AIG).   Collectively serving as AIRROC's Executive Committee along with Executive Director, Carolyn Fahey, they bring many years of experience and insights with them.  Teich is Vice President of Reinsurance at The Hartford and … [Read more...] about AIRROC Confirms Board Leadership and New Directors for 2020

Proposed Transfer from Ageas Insurance Limited to RiverStone Insurance (UK) Limited

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Please see the link below to view notice of a proposed insurance business transfer from Ageas Insurance Limited (“Ageas”) to RiverStone Insurance (UK) Limited. The business to be transferred comprises certain insurance and reinsurance business written or assumed by Ageas or its predecessors, including business written by or on behalf of Bishopsgate Insurance Limited and … [Read more...] about Proposed Transfer from Ageas Insurance Limited to RiverStone Insurance (UK) Limited

Proposed Transfer from Aioi Nissay Dowa Insurance Company, Ltd. to RiverStone Insurance (UK) Limited

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Please see the link below to view notice of a proposed insurance business transfer involving Aioi Nissay Dowa Insurance Company, Ltd. (“ADI”) (as regards certain reinsurance contracts which are administered in the UK by or on behalf of ADI, acting through its UK branch) and RiverStone Insurance (UK) Limited. Please click the link for further information on the … [Read more...] about Proposed Transfer from Aioi Nissay Dowa Insurance Company, Ltd. to RiverStone Insurance (UK) Limited

David Scasbrook Named AIRROC Person of the Year for 2019

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New Jersey, October 21, 2019  The Association of Insurance and Reinsurance Run-Off Companies (AIRROC) has posthumously named David Scasbrook as the winner of the 2019 Person of the Year award. 2019 marks the 15th year that AIRROC has bestowed this annual award. The award was announced on October 21 at AIRROC’s 15th Annual Forum in Jersey City, NJ. This award is … [Read more...] about David Scasbrook Named AIRROC Person of the Year for 2019

An Eye on the Exit

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AIRROC's Executive Director, Carolyn Fahey, pens article for Captive International.  Run-off is a corporate risk management tool giving insurers the flexibility to respond to the changing needs of its clients. It allows insurers to carve out lines or sell portfolios or entire captives, freeing them up to create new coverages, says Carolyn Fahey of the Association of … [Read more...] about An Eye on the Exit

The Legacy Roundtable – 2019

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Few in legacy circles would dispute that over the past three years the market has witnessed some of the most rapid change seen in decades. New deals from new sellers are steadily flowing into the market. New capital has arrived in the form of private equity and hedge fund money. And with both of these developments come new opportunities. The only thing missing is an … [Read more...] about The Legacy Roundtable – 2019

Global Insurance Run-Off Survey 2019

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We are pleased to release the results of the Global Insurance Run-off Survey 2019. There has been tremendous growth in the run-off sector in the last decade as it has developed into a key component of the insurance macro market.This survey, based on responses from a cross-section of global risk carriers, run-off acquirers and service providers, predicts that momentum will … [Read more...] about Global Insurance Run-Off Survey 2019

Legacy Roundtable 2019

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AIRROC's Executive Director, Carolyn Fahey, participated in the Insurance Insider’s annual Legacy Roundtable with many of the most influential business leaders in the legacy market in what proved to be a thoughtful and engaging discussion around what a legacy carrier needs not just to survive, but to thrive in the new market norm. Read more by clicking on this link. … [Read more...] about Legacy Roundtable 2019

Karen Amos, “Outgoing” Board Member

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After serving on AIRROC’s board for 14 years, most recently as Chair of the Education Committee, Karen Amos stepped down effective January 1, 2019. Resolute nominated Arvind Krishnamurthy to run for Karen’s spot, and the AIRROC membership elected him in the October 2018 election cycle for a three-year term. As Chief Operating Officer of Resolute Management Services Limited … [Read more...] about Karen Amos, “Outgoing” Board Member

Grabbing the Baton: Meet the New AIRROC Board Members 2019

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AIRROC continues to attract talented, experienced, and committed members to serve on its board. Please join us in welcoming Eleni Iacovides, Arvind Krishnamurthy, and Bill Bouvier as the newest members. To encourage our readers to get to know each of them better, we include a “conversational gambit” about each. Eleni Iacovides, Group Chief Client Officer at DARAG Group Ltd., … [Read more...] about Grabbing the Baton: Meet the New AIRROC Board Members 2019

Interview of Thomas Workman

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Fran Semaya and Fred Pomerantz, members of the AIRROC Publication Committee, had the pleasure of interviewing Thomas E. Workman for an AIRROC Matters exclusive. Tom, with over four decades of insurance background, was appointed as the Independent Member of the Financial Stability Oversight Council (FSOC), for a term of six years on March 29, 2018 after nomination by President … [Read more...] about Interview of Thomas Workman

Notice of Proposed Transfer of Certain Legacy Insurance Business

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Please see the link and letter below to view information about the proposed transfer of insurance business from Royal & Sun Alliance Insurance plc (RSAI) and The Marine Insurance Company Limited (MIC) to Mercantile Indemnity Company Limited (Mercantile) under Part VII of the Financial Services and Markets Act 2000 (the Transfer). Further information, is available … [Read more...] about Notice of Proposed Transfer of Certain Legacy Insurance Business

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