Insight and Intelligence on the London & International Insurance Markets

9 February 2012

Flagstone steps up plans to shed Marlborough run-off

8 July 2010

Flagstone Re is looking to stop managing the prior year run-off book of Marlborough Underwriting Agency, the Lloyd's platform it bought from Berkshire Hathaway, The Insurance Insider understands.

When the Bermudian (re)insurer bought Marlborough, the Syndicate 1861 managing agency, in October 2008, part of the deal was that Berkshire Hathaway took any prior-year adverse development.

The acquisition did not include any liability for business written in 2008 or before, and Flagstone licensed its own corporate capital vehicle to back Syndicate...

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