Enstar has revealed its newly agreed adverse development cover (ADC) for Axa XL will see it provide two layers of cover for a $1.395bn portfolio.
Arch-sponsored Premia is to acquire up-for-sale Bermuda-based legacy carrier Armour Group and combine the two businesses in an all-stock deal, The Insurer can reveal.
Recently acquired run-off firm Compre has completed a second deal through its new Lloyd’s syndicate with the legacy specialist announcing a reinsurance-to-close (RITC) transaction for Syndicate 3330’s 2018 year of account.
The European Commission has approved the acquisition of RiverStone Europe by a vehicle owned private equity house CVC Capital Partners, for a purchase price of $750mn.
Compre is to target mid-market portfolios within the growing Lloyd’s legacy space after fulfilling its longstanding ambition to establish its own Lloyd’s syndicate.
Legacy-to-live powerhouse Enstar Group has completed its previously announced $690mn deal with a subsidiary of CNA Group to reinsure a portfolio of excess workers’ compensation business.
Run-off specialist Catalina’s CEO and co-founder Chris Fagan is to step down from the helm after over 15 years in the top role and is to be succeeded by chairman Bruce Hemphill.
Start-up legacy specialist Marco has hired Zsolt Szalkai to take on the role of managing director and head of M&A.
The UK arm of run-off specialist Catalina has appointed Tony Mason as chair and Penny Shaw as a non-executive director, marking the latest changes to the board since the firm was handed a Section 166 review by the Financial Conduct Authority in the summer of 2019.
Uniformity of the process and regulatory acceptance are vital if insurance business transfers (IBTs) are to become a mainstream solution for run-off liabilities in the estimated $350bn US legacy market, according to BMS senior consultant Mory Katz.
European P&C run-off specialist Marco has completed its acquisition of British Reserve Insurance Company Ltd (BRIC), a UK non-life insurance company, from Allianz.
Randall & Quilter Investment Holdings has begun 2021 by completing the previously announced acquisitions of Vibe Group subsidiary Inceptum Insurance Company Ltd and The World Marine & General Insurance Company.