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Barbican and AmTrust have now both launched formal processes to secure a reinsurance-to-close transaction. -
With the recent push from Lloyd’s to remediate the market’s ailing profitability, it’s widely expected that the legacy market will see greater reinsurance-to-close (RITC) deal flow in the months to come.
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The legacy carrier would use the Lloyd's platform to access the reinsurance-to-close market.
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TigerRisk has been appointed to advise on the disposal of the Irish public liability and employers' liability book.
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The carrier has brought together its program businesses on both sides of the Atlantic.
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The $25mn cover will attach once Enstar has absorbed $100mn of adverse claims development on the $1.3bn run-off book it agreed to acquire last week.
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The carrier wants to double the cap to accommodate acquisition opportunities.
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The deal will also see $1.3bn of legacy reinsurance liabilities sold to the run-off acquirer.
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The Apollo-backed legacy player is close to a deal to take on past liabilities of $1.1bn third-party book.
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The former Aegis London finance director will join in September.
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Legacy deal talks with Maiden have stalled, leaving Catalina as a meaningful investor in a challenged business with a potentially highly volatile share price.
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The legacy carrier and consultancy SOBC Corp have jointly acquired the non-standard auto insurer in run-off.
