Enstar Group Ltd., the Bermuda-based legacy acquisition specialist, announced its Lloyd’s syndicate has agreed a ground-up loss portfolio transfer (LPT) with Atrium Syndicate 609, managed by Atrium Underwriters Ltd. The transaction involves Syndicate 609’s discontinued portfolios, comprising marine treaty reinsurance, …
AXIS Capital Holdings Ltd. and Enstar Group Ltd. announced they have entered into a loss portfolio transfer (LPT) reinsurance agreement, which will retrocede $2.3 billion of AXIS’s reinsurance reserves. Structured as a 75% ground-up quota share, the LPT reinsurance agreement …
Reflecting on one of the trends that surfaced as property/casualty insurers announced 2023 financial results recently, AM Best expects reserve strengthening for accident years 2015-2019 to continue, the rating agency said in a new report. As companies “finished reporting their …
RiverStone International, the London-based provider of legacy solutions in the Lloyd’s market, has signed an agreement with members of the Catalina Group to acquire Catalina Insurance Ireland, an Irish insurance company regulated by the Central Bank of Ireland. Financial details …
SiriusPoint Ltd., the Bermuda-based re/insurer, announced it has completed a ground-up loss portfolio transfer (LPT) of a portfolio of primarily reinsurance business with the legacy acquisition specialist Compre. This is the second LPT the companies have partnered on. Compre assumed …
QBE Insurance Group announced a reinsurance transaction with legacy acquisition specialist Enstar, designed to de-risk the group’s exposure to portfolio reserves totaling US$1.9 billion. “This portfolio includes reserves primarily relating to North America and international financial lines, discontinued programs and …
RiverStone International, a leading acquirer and reinsurer of legacy and discontinued insurance business, has completed an agreement with MS Amlin Underwriting Ltd. to provide MS Amlin Syndicate 2001 with a reinsurance-to-close (RITC) of the 2018 and prior years of account. …
RiverStone International, the Bermuda-based acquirer and reinsurer of legacy and discontinued insurance business, announced it has entered into loss portfolio transfer (LPT) reinsurance agreements with affiliates of AXIS Capital Holdings Ltd. The LPT agreements cover several of its professional lines …
Several recent reserve cover deals—including the single-largest reinsurance transaction on record—demonstrate a growing interest on the part of insurers to shed their long-tail liabilities. A sharp uptick in reserve disposals in 2017, bolstered by continued momentum in early 2018, indicate …
Specialist run-off acquirer and manager AXA Liabilities Managers (AXA LM) has acquired the legacy assumed portfolio of Cologne-based Gothaer Finanzholding A.G., which is been in run-off since it ceased trading in 2004. The transaction was in the form of loss …
