R&Q completes $60mn LPT for California self-insurance pool
R&Q has completed a loss portfolio transfer for a California-based self-insurance pool through its subsidiary Accredited Surety and Casualty Company.
Darag completes its first Part VII transfer with China Taiping Insurance
Legacy acquirer Darag Group has received court approval for its German insurance carrier, Darag Deutschland AG, to complete a Part VII transfer with China Taiping Insurance (UK) Co Ltd (CTI).
MGA Kitsune enters run-off after reinsurance pulled
Specialist motor insurance MGA Kitsune has entered run-off and appointed administrators after its reinsurance renewal was declined at the end of October, The Insurer understands.
Argo’s $1.1bn LPT transaction with Enstar closes
Enstar has closed its previously announced loss portfolio transfer (LPT) with Argo Group, with the deal closing the same week that Argo said it has recognised $37.7mn of prior year development that falls within the $75mn retained loss corridor.
Conifer agrees $20mn ADC for 2019 and prior with Fleming Re
Specialty carrier Conifer Holdings has secured a $20mn adverse development cover for accident years leading up to 2019 after agreeing a loss portfolio transfer (LPT) deal with Fleming Re.
Premia and Global Risk Capital venture Canvas acquires SPX’s legacy asbestos liabilities
Premia Holdings and Global Risk Capital-backed joint venture Canvas Holdco has acquired three subsidiaries of SPX Technologies which hold the group’s asbestos liabilities and related insurance assets.
Enstar posts $444mn Q3 loss driven by investment volatility
Run-off specialist Enstar has reported a third quarter net loss of $444mn – compared to a loss of $196mn in the prior-year period – driven by unrealised losses on fixed income securities in its investment portfolio.
Legacy remains seller’s market despite inflationary challenges
The competitiveness of the European non-life legacy sector means it is “still a seller’s market” despite increasing inflationary pressures across the continent, according to Jens Ziser, managing director of Black Forest ReInsurance Consulting (BFRC).
R&Q hires Catalina duo after legacy exits
Legacy specialists R&Q and Catalina have both made hires from their rivals in recent weeks as the battle for talent in the run-off space intensifies.
Compre continues European medmal build-out with deal for Covéa Irish subsidiary
Compre has continued to build out its European medical malpractice legacy portfolio with the acquisition of Medical Insurance Company DAC (MIC).