Run-off Acquisition News

Run-Off Firm Catalina Raises $700M, Forms Shareholder Restructure with Apollo, RenRe

Catalina Holdings (Bermuda) Ltd., a legacy runoff property and casualty re/insurance specialist, announced it has completed a US$700 million equity capital raise and concluded its shareholder restructuring after receiving regulatory approvals. As a result of this transaction, Apollo Global Management …

Randall & Quilter to Acquire Coffey Group’s Irish Captive

Randall & Quilter Investment Holdings Ltd. (R&Q) announced it has entered into an agreement to acquire Western Captive Insurance Company Designated Activity Company (WCIC) from the Coffey Group of companies in Ireland. WCIC is Coffey’s Irish-domiciled captive insurance company. The …

AXA Liabilities Managers Acquires Gothaer Re Run-Off Portfolio

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 …

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 …

RenaissanceRe to Buy Minority Stake in Run-Off Firm Catalina Holdings

RenaissanceRe will pick up a minority stake in Catalina Holdings (Bermuda) Ltd., a long-term manager of legacy runoff P/C insurance and reinsurance businesses. Neither side is disclosing financial terms. RenaissanceRe will pursue the investment through its subsidiary RenaissanceRe Ventures Ltd. …

R&Q Buys Old Mutual’s Run-Off Captive, Constantia Insurance

Randall & Quilter (R&Q) announced it has acquired Constantia Insurance Co. (Guernsey) Ltd., a captive company now in run-off, from Old Mutual plc. Regulatory approval for the acquisition has been granted and Constantia will be amalgamated into Capstan Insurance Company …

Compre Announces Bridger & Lawson to Become Co-CEOs, Succeeding Steer

Compre, the independent insurance and reinsurance legacy specialist, announced that Nick Steer, a founding director, will step down as group CEO in March 2018. He will remain within the group as non-executive deputy chairman, advising on future acquisitions. Will Bridger, …

Randall & Quilter Sells R&Q Managing Agency to U.S. MedMal Insurer Coverys

Randall & Quilter Investment Holdings Ltd. announced it has completed the sale of its Lloyd’s managing agency, R&Q Managing Agency Ltd. (RQMA), to Coverys, a provider of medical professional liability insurance based in Boston, Mass. The agreement between R&Q and …

Compre Acquires Legacy Portfolio from Noway’s Gjensidige Forsikring

Compre, the London-based insurance and reinsurance legacy specialist, announced it has acquired a further legacy portfolio from Norwegian insurer Gjensidige Forsikring ASA for an undisclosed sum. The portfolio comprises U.S. asbestos, pollution and health hazard (APH) risks underwritten between 1983 …