The legacy market: poised for the next wave?


Later this morning the UK run-off market will be leaving their desks – whether at home or in the office – and jumping on the Brighton train for the first in-person legacy conference since the start of the pandemic.

Barry Gale and Victor Nelligan – Aon

Aon confirms Gale as head of legacy unit and adds PwC’s Nelligan


Aon has continued to build out its expansive run-off business, hiring PwC’s Victor Nelligan and confirming the arrival of Barry Gale from KPMG, a move first revealed by The Insurer. 


Fortitude Re to acquire Prudential legacy variable annuities book in $2.2bn deal


Fortitude Re has agreed a $2.2bn deal to acquire a portion of Prudential Financial’s in-force legacy variable annuity block as the run-off specialist continues to build out its market footprint.

R&Q and Lufthansa

R&Q completes LPT with Lufthansa’s captive


Randall & Quilter Investment Holdings (R&Q) has completed a loss portfolio transfer (LPT) of reinsurance business with Lufthansa Group’s German captive insurance company Delvag Versicherungs-AG.


Numis: Gibson Re launch will improve R&Q’s long-term earnings quality


Randall & Quilter’s new third-party capital-funded $300mn sidecar Gibson Re will significantly improve long-term earnings quality and reduce the capital intensity of the business, according to Numis Securities.


R&Q set to unveil legacy sidecar vehicle Gibson Re


Randall & Quilter Investment Holdings (R&Q) is expected to shortly unveil its first reinsurance sidecar Gibson Re – perhaps as early as Monday – after investors and the London-listed firm agreed terms earlier this week, according to sources.

R&Q and Sentry

Sentry IBT to R&Q subsidiary completes following court approval


The first so-called insurance business transfer between two separate unrelated parties has completed after the District Court of Oklahoma County approved the transfer of a block of reinsurance business underwritten by Sentry Insurance Company to National Legacy Insurance Company.

Will Bridger – Compre

Compre portfolio focus skews to US as eyes continued North America growth


Run-off specialist Compre is looking to make further inroads into the North American legacy market as it “sets out its stall” to focus on mid-market accounts, the firm’s chief executive has said.


Darag agrees LPT with Insr Norway


Legacy specialist Darag has signed a loss portfolio transfer (LPT) and a portfolio transfer (PTA) with Oslo Stock Exchange-listed Insr Insurance Group ASA.


Primed-for-growth legacy specialist Fortitude Re assigned FSR of A by AM Best


Fortitude Re has been assigned a financial strength rating (FSR) of A (Excellent) by AM Best as the run-off carrier readies itself for growth and looks to build upon its early success of posting an operating profit each year since incorporation.

Maiden Holdings

Maiden posts Q2 operating profit as reserve releases push UW income


Maiden Holdings posted a sixth successive quarter of operating profitability in Q2 2021 as the Bermudian company benefited from favourable prior year loss development that fuelled a swing to underwriting profit in the period.


SiriusPoint agrees $417mn legacy transfer deal with Compre


SiriusPoint has agreed a deal to transfer a $417mn book of legacy liabilities to run-off specialist Compre in a transaction that chairman and CEO Sid Sankaran said will allow the Bermudian (re)insurer to redeploy capital to support strategic growth.