Brit and Riverstone

Brit strikes $380mn LPT with RiverStone International

2021-11-18T10:50:00+00:00

Fairfax-owned Brit has completed a loss portfolio transfer agreement with RiverStone International for a legacy portfolio of discontinued classes of business underwritten by Syndicate 2987 at Lloyd’s as it seeks to reduce its exposure to US casualty claims inflation.

Maiden Holdings

Maiden’s Genesis unit closed first LPT in Q3

2021-11-09T23:44:00+00:00

Maiden Holdings, which is running off its (re)insurance liabilities, has reported a slightly larger operating loss for the third quarter and revealed that its Genesis Legacy Solutions unit has completed its first transaction.

IM-SiriusPoint-Compre-Bermuda

SiriusPoint completes $417mn legacy deal with Compre

2021-11-08T11:19:24.167+00:00

SiriusPoint and Compre have completed a previously agreed deal that will see the Bermudian reinsurer transfer a $417mn book of legacy liabilities to the run-off specialist. 

Marko and Capita

Busy legacy firm Marco Capital agrees “transformational” deal to acquire Capita insurance units

2021-11-02T07:59:00+00:00

Expansive legacy start-up Marco Capital has continued to build out its operations with the acquisition of Capita’s specialty insurance businesses.

Markel Catco

Investors back improved Markel-funded CatCo run-off scheme

2021-10-26T07:17:00+01:00

Investors have thrown support behind Markel’s proposed buyout transaction for its Bermudian retro fund manager Markel CatCo Investment Management, which will return capital to investors in CatCo’s Bermuda and London funds.

Marco and Humboldt Re – Guernsey

Marco takes over Credit Suisse’s run-off reinsurer Humboldt Re

2021-10-20T07:29:00+01:00

Expansive legacy start-up Marco Capital Holdings has inked a deal to acquire Guernsey-domiciled Humboldt Re from Credit Suisse.

Jens Ziser BFRC

Bernd flooding to drive increase in legacy transactions in DACH region: BFRC

2021-10-19T09:28:00+01:00

An increasing willingness among (re)insurance companies in the DACH region to explore legacy solutions will lead to growth for the region’s run-off market in 2022 and beyond, according to Jens Ziser, managing director of Black Forest Reinsurance Consulting.

Carrick Bank of Montreal

Carrick secures $40mn Bank of Montreal credit agreement to fund legacy deals

2021-10-19T06:14:00+01:00

Carrick Specialty Holdings, the legacy start-up led by former Enstar US president and CEO Karl Wall, has secured $40mn of funding through a credit agreement with Bank of Montreal.

Marco Lloyds

Marco gains Lloyd’s approval for RITC syndicate

2021-10-15T09:58:00+01:00

Oaktree Capital Management-backed legacy start-up Marco Capital Holdings Ltd has gained in-principle approval to launch a reinsurance-to-close syndicate at Lloyd’s.

Marco Allianz

PE-backed legacy firm Marco strikes third deal with Allianz UK Gibbon Pools liabilities

2021-10-13T13:47:00+01:00

Oaktree Capital Management’s legacy start-up Marco Capital Holdings Ltd has completed its third transaction since launching last year with a deal to release an Allianz UK subsidiary from its decades-old liabilities arising from the Gibbon Pools.

IM-RSA-Aon-MerrickGarland-DoJ

RSA completes £400mn ADC with Enstar

2021-10-06T13:44:00+01:00

Enstar has completed its previously announced agreement to provide a £400mn ($543mn) adverse development cover for certain UK, Irish and other business of Intact Financial-owned RSA and its subsidiaries.

James River

James River shares surge ~12% following Uber LPT deal

2021-09-30T14:47:00+01:00

James River Group’s shares gained close to 12 percent in early morning trading following the carrier’s earlier announcement it had secured a loss portfolio transfer for its Uber-related run-off commercial auto portfolio.