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None of the run-off deals in Q1 involved the transfer of asbestos, pollution and other health hazard liabilities.
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Removing language involving commutation of contracts is a key aspect of the legislation.
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Over the past two years, the quality of the accompanying information for capital extraction requests has been inadequate.
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Until New York or California creates a run-off law, legacy transactions commonly done like they are in the UK will never happen.
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The state’s newly signed insurance business transfer law goes into effect in November.
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This publication's legacy survey found just 29 percent of the market were hopeful the Rhode Island legislation would serve as an effective transfer mechanism in the coming year.
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The deal is the first since Darag and New Nordic forged their partnership.
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This publication's latest legacy survey finds the sector is having something of a “moment”.
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Simon Hawkins will join the legacy carrier in the third quarter.
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Shareholders to vote on run-off resolution for London-listed fund.
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The legacy carrier sustains mark-to-market losses of $143mn in Q1.
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Agreed bidder Quest's delay in securing a related regulatory approval prompts contingency planning.