Legacy

UK food retailer Morrisons has been found liable for a data breach caused when an employee leaked staff information, the High Court has ruled.

Asbestos remains a persistent source of industry losses, with an estimated $13bn funding gap between the $100bn projected total liability for the US P&C industry and the $87bn paid out or reserved through last year, according to AM Best data.

Guarantee Insurance, the workers’ compensation carrier that wrote business in more than half the US, is being liquidated by Florida authorities.

European legacy acquirer Compre has agreed to purchase a portfolio of assumed reinsurance liabilities from Allianz Versicherungs AG for an undisclosed sum.

QBE is in exclusive discussions with Armour on a $500mn US legacy book that holds predominantly commercial auto exposures, The Insurance Insider understands.

The number of legacy transactions being explored by the live market is surging as firms look for solutions to deteriorating reserve positions and ways of optimising their capital.

Axis has almost doubled the size of its proposed legacy sale of Novae's back book and is in late-stage discussions with Enstar and an R&Q-Axa consortium, The Insurance Insider can reveal

European legacy specialist Darag is in exclusive talks to acquire a book of Italian motor business from Donau, a subsidiary of multinational insurer Vienna Insurance Group (VIG), The Insurance Insider can reveal.

Zurich today confirmed it has entered an agreement with Catalina on transferring its German legacy medical malpractice book

There will be significant volumes of ILS capital trapped at year-end, particularly in the retro segment, but out of this challenge the reinsurance market is looking for opportunities to spin out new products

Neon has approached the legacy market to find finality for a portfolio holding approximately £410mn ($536mn) of reserves, The Insurance Insider understands.

Probitas Syndicate 1492 has hired Marcus Bale, the former active underwriter at defunct ProSight Specialty Syndicate 110, as head of strategy and development for its nascent retail business