The Insurer TV: Legacy’s evolution from conceding failure to capital optimisation


In the latest episode of Prospective, brought to you by The Insurer TV, participants discuss what is driving the momentum in the legacy market and how it has reached its ‘coming of age’ moment.


Enstar: run-off pipeline strong despite increased competition and portfolio volatility


Bermudian Enstar has said it has a strong pipeline of legacy transactions and is poised to build on the ~$3bn of run-off liabilities it has already acquired in 2021.

Enstar Q1 results

Enstar swings to $284mn Q1 operating income


Enstar’s net and operating results returned to profit in the first quarter of 2021, on the back of a reduction in losses and loss adjustment expenses, as well as favourable prior-year development.

The Insurer TV – Prospective

The Insurer TV: Split RITCs – the next evolution of Lloyd’s legacy?


Split reinsurance-to-close (RITC) transactions at One Lime Street have the potential to become as common as Part VII transfers in the UK company market with the support of both Lloyd’s and the Prudential Regulation Authority (PRA).

Linda Johnson and Paul Corver

The Insurer TV: NAIC involvement crucial to help standardise US IBT structure


Industry leaders in the legacy market have called on the National Association of Insurance Commissioners (NAIC) to create nationwide legislation to help insurance business transfers (IBTs) become more widely accepted in the US market following initial success.


The legacy market: a renaissance in the making


Welcome to the latest edition of Prospective, which this month focuses on an industry sector which appears to be very much in vogue – the global P&C legacy market.

Lyft, Darag and Enstar

Lyft’s LPT with Darag takes offloaded liabilities to $715mn


Ridesharing company Lyft’s $250mn loss portfolio transfer (LPT) with Darag marks the firm’s latest foray into the run-off market, following a transaction with Enstar last year which saw the Bermudian reinsure $465mn of legacy reserves.

Darag Lyft

Darag seals LPT with Lyft captive


Legacy specialist Darag has agreed a loss portfolio transfer (LPT) with Lyft captive Pacific Valley Insurance Company (PVIC).

Emmanuel Clarke Compre

Compre names former PartnerRe CEO Clarke as chair


Compre has added former PartnerRe CEO Emmanuel Clarke to its board as chairman following the completion of the legacy specialist’s acquisition by private equity firm Cinven and British Columbia Investment Management Corporation (BCI).


Compre continues expansion with claims and M&A director appointments


Run-off firm Compre has named Marialuisa Petrella as claims director and Connie Tregidga as group M&A director.

Fortitude Re – Bermuda

Fortitude Re eyes P&C expansion as builds out US and BDA platforms


Run-off carrier Fortitude Re is gearing up to meaningfully expand its platform by adding staff in the US and Bermuda, as the AIG spin-off looks to scale up its P&C operations, The Insurer understands. 

Axa Chaucer Lloyds

Chaucer strikes RITC with Axa African specialty SPA


Chaucer Syndicate 1084 has accepted the reinsurance to close (RITC) of the liabilities of its former joint venture with Axa – Special Purpose Arrangement (SPA) 6130 – for the 2018 year of account.