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The executive said the run-off legislation may not be "the solution that some people think it might be".
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Even some of the largest run-off companies could find themselves exempt from Solvency II-related external audit requirements.
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The R&Q chairman and CEO tells this publication insurers will react to disappointing payback at recent renewals.
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The legacy carrier continues to work on a replacement for CEO-designate Tom Booth.
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Chairman and CEO Ken Randall says the company has a strong deal pipeline after striking 19 legacy transactions last year. -
Axa’s run-off management arm has appointed KPMG to advise on the disposal of a $100mn US asbestos, pollution and health hazard legacy portfolio, The Insurance Insider has learned.
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Catalina today announced it had assumed a portfolio of run-off US P&C liabilities from Arch Re, with net outstanding reserves of about $410mn.
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The legacy sector has seen surging deal volumes of late, but the major inflows of capital into the space look set to choke off returns, with the live market’s depressed returns a cautionary tale for run-off acquirers.
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Barbican is exploring the possibility of a reinsurance-to-close transaction for the 2016 and prior years of account, The Insurance Insider understands.
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Zurich has appointed KPMG to advise on the long-awaited disposal of its £1.6bn legacy UK employers’ liability book, The Insurance Insider can reveal.
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Former Enstar CFO Richard Harris has joined the board of Fosun-backed legacy carrier SunPoint in a non-executive role.
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The US P&C industry's reserving deficit deepened to $4.3bn in 2017, according to research from Morgan Stanley.
