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The spate of Bermudian deals pointed to the quality of the carriers, Duperreault said.
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Swiss Re makes a cash injection into the parent of the Rhode Island legacy carrier.
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The two parties are understood to be nearing an agreement on the sale of £1.6bn of Zurich’s legacy UK employers’ liability exposures.
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The legacy arm of Axa has agreed to acquire a EUR85mn portfolio of Sovag’s inward reinsurance business and direct business.
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Barbican and AmTrust have now both launched formal processes to secure a reinsurance-to-close transaction.
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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. -
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.
