insurance run-offs News

Tokio Marine Puts UK Insurer into Run-Off, Now Focusing on Lloyd’s Business

Tokio Marine Group is putting one of its UK insurance companies, Tokio Marine Kiln Insurance (TMKI), into run-off. Going forward, Tokio Marine Kiln (TMK) will focus on its Lloyd’s businesses. The run-off plan will be taken in two parts: TMKI’s …

Legacy Acquirer R&Q Buys UK’s Nationale-Nederlanden Internationale Schadeverzekering

Randall & Quilter Investment Holdings Ltd. announced it has completed the acquisition of the entire issued share capital of UK-based Nationale-Nederlanden Internationale Schadeverzekering SE (NNIS) from its owners NN Group. NNIS was transferred from the Netherlands to the UK in …

Legacy Acquirer DARAG Taps Booth from Randall & Quilter to Become Group CEO

DARAG, the Malta-based legacy acquirer, announced that Tom Booth has been appointed DARAG group CEO, effective July 23, to lead global expansion. Stuart Davies will remain executive chairman until the transition is complete and become non-executive chairman thereafter, working with …

Legacy Acquirer DARAG Forms Partnership with Asset Manager New Nordic Advisors

DARAG, the European legacy acquirer, and New Nordic Advisors, a London-headquartered investment management company, announced the formation of a strategic partnership. DARAG and New Nordic will join forces in a number of areas, including the provision of legacy, active business …

Catalina Buys Hartford Financial Products Int’l, Downlands Liability Management

Catalina Holdings (Bermuda) Ltd. announced that its wholly owned subsidiary, Catalina Holdings UK Ltd., has completed its acquisition of Hartford Financial Products International Ltd. and Downlands Liability Management Ltd. from The Hartford Financial Services Group Inc. The acquisition of HFPI …

Randall & Quilter Forms Run-Off Arrangement for Law Society of Ireland’s PI Fund

Randall & Quilter Investment Holdings Ltd. has entered into an arrangement with the Law Society of Ireland in respect of the run-off obligations of the Solicitors Mutual Defence Fund (SMDF). SMDF was established in 1987 as a mutual fund to …

Pro Global Files Company Application Under R.I.’s New Run-Off Reg

Pro Global Insurance Solutions plc announced that it has become the first company to file an application for a new domestic insurer in Rhode Island to facilitate insurance business transfers (IBT) under the August 2015 amendment to the state’s Insurance …