Darag and Beazley

Darag and Beazley seal US trucking run-off deal

2020-01-16T11:46:00+00:00

Run-off provider Darag has inked a reinsurance legacy deal with London-listed Beazley for its US trucking liability book of business, The Insurer can reveal.

Demotech – Florida

Run-off warning as Demotech prepares to begin Florida downgrades

2020-01-13T21:32:00+00:00

Demotech will this week begin issuing statements on the 46 Florida-focussed carriers it rates with the majority to be affirmed but a number set to be downgraded or to seek a sale to avoid that outcome, while others may end up in run-off.

William Spiegel and Ken Randall

Pine Brook founder Spiegel to succeed Randall at R&Q

2020-01-13T07:10:00+00:00

Ken Randall, executive chairman and founder of London-listed legacy and program manager R&Q, will step down in “around 12 months” to be succeeded by one of the (re)insurance industry’s leading private equity experts, William Spiegel.

Arndt Gossmann

Gossmann & Cie acquires Sovag as it looks to build Munich Re partnership

2020-01-09T10:35:00+00:00

Hamburg-headquartered run-off specialist Gossmann & Cie has acquired German insurer Sovag as the firm looks to scale up its partnership with Munich Re through ExPro.

Walter Gontarek and Bob Howe – Catalina

Catalina strengthens UK corporate governance after FCA scrutiny

2020-01-09T09:56:00+00:00

Bermudian-headquartered legacy firm Catalina Holdings has added Walter Gontarek and Bob Howe to the board of its UK subsidiaries as independent non-executive directors (INEDs) after the firm fell victim to a Section 166 review by the UK’s Financial Conduct Authority (FCA) last year.

R&Q logo on city background

R&Q takes over Barbados-based Distinguished Re

2019-12-30T11:50:00+00:00

Legacy specialist R&Q has completed the acquisition of Barbados-based insurer Distinguished Re, formerly known as the Saranac Insurance Company, with the run-off firm paying a cash consideration of $1 for the carrier.

Singapore, skyline

Sirius adds Asia Capital Re’s Singapore fac team

2019-12-24T00:35:00+00:00

Sirius International has added to its facultative capabilities in south east Asia, taking advantage of the fallout from the run-off of Asia Capital Re by acquiring its Singapore-based team.

Armour

Armour-run Elite Insurance placed into administration

2019-12-11T20:44:00+00:00

Gibraltar-domiciled Elite Insurance Company – which was acquired by a group of investors led by Armour Group last year – has been placed into administration.

Major-2017-18-legacy-related-capital-raises-i

Asia Capital Re deal continues 2019 legacy boom

2019-12-05T14:01:00+00:00

Bermudian legacy firm Catalina Holdings’ in-principle agreement to acquire Singapore-headquartered Asia Capital Reinsurance Group (ACR) is the latest in a series of significant deals in recent months in what is turning out to be a fruitful season for the legacy market.

Vibe and Faraday

Faraday set to takeover Vibe’s FI business when syndicate closes

2019-12-04T13:30:00+00:00

Faraday Syndicate 435 is in talks to take over a five-strong financial institutions team and its book of business from the soon-to-be closed down Vibe Syndicate, The Insurer can reveal.

RenaissanceRe, TigerRisk and Morgan Stanley

RenRe engages TigerRisk and Morgan Stanley to sell UK legacy book

2019-12-03T15:50:00+00:00

RenaissanceRe has appointed TigerRisk and Morgan Stanley to find a buyer for its £396mn ($514.6mn) UK legacy book which the (re)insurer inherited through its $1.5bn acquisition of Bermudian neighbour Tokio Millennium Re.