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Consultant predicts increased restructuring in the legacy sector and continued growth in deals.
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The relatively small number of participants has to date constrained the capital supply and pricing for Lloyd’s legacy deals.
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A rival Compre-Hudson bid group fails to disrupt the Premia offer.
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The portfolio holds almost $200mn in net reserves.
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The executive also played down competition in the legacy space. -
The legacy acquirer will provide complete finality for shareholders.
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The run-off platform is headed by former Enstar US chief Karl Wall, with Richard Harris holding a non-exec role.
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The Canadian conglomerate will buy out all of Omers minority stake in Brit.
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The executive replaces Patrick Manley as CEO of the Swiss carrier’s main EU general insurance arm.
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The legacy carrier will use the base to acquire insurance entities in run-off.
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The European legacy specialist, led by CEO Tom Booth, had been considered the frontrunner to take the German book.
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Discipline will be key as the legacy market enters a period of rapid change.
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