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Tom Booth, former CFO at Randall & Quilter (R&Q), has been lined up to become the next CEO of Darag, according to sources.
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Chaucer is set to reinsure to close its UK division's book of business for the 2015 year of account.
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Chaucer is set to reinsure to close its UK division's book of business for the 2015 year of account.
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Run-off specialist Enstar has confirmed its agreement to reinsure an Australian motor legacy business of Zurich Insurance Group, as first reported by this publication.
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Zurich would only be able to sustain six and a half years of payments related to US asbestos claims at current payout levels, which is weaker than the US market average, according to analysis from Bernstein Research.
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US specialty insurer IAT has agreed a deal to acquire the renewal rights to a $40mn book of surplus lines excess and umbrella business from State Auto subsidiary, Rockhill.
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A welter of fresh legacy deals has provided further evidence that the "legacy moment" which started last year has continued into 2018.
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QBE has approached the legacy market as it seeks to shed its troubled Hong Kong workers' compensation book, which holds an estimated HK$2bn ($255mn) in reserves, The Insurance Insider has learned.
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Arch Capital has struck a legacy deal with Catalina that calls for it to transfer around $400mn of reserves to the run-off specialist, The Insurance Insider can reveal.
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Generali booked a one-off profit of EUR196mn ($243mn) from the sale of its old London market run-off book, according to its full-year 2017 financial disclosures.
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Opportunity is knocking for Oklahoma on the legacy transactions front.
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Oklahoma's proposed law on insurance business transfers (IBTs) could be on Governor Mary Fallin's desk as soon as May, according to a state insurance official.
