Run-off Acquisition News

London Run-off Specialist RiverStone Acquires 2 Cayman-Based Captives

Run-off specialist RiverStone Group, the London-based subsidiary of Fairfax Financial Holdings, announced the acquisition of two Cayman-based captives: GMPCI Insurance Co. Ltd. (GMPCI) and Seaside Indemnity Alliance Company Ltd. Seaside was formed in 2013 for the purpose of assuming hospital …

DARAG Buys Zurich’s German Architects & Engineers Professional Indemnity Portfolio

DARAG Group Ltd., the Malta-based legacy acquirer, announced it has reached an agreement with Zurich Insurance plc to acquire Zurich’s German architects and engineers (A&E) professional indemnity insurance portfolio. The transaction is subject to relevant regulatory and court approvals, in …

Legacy Acquirer DARAG Signs Portfolio Transfer Agreement with Germany’s SOVAG

DARAG Group Ltd., the Malta-based legacy acquisition firm, announced it has signed a portfolio transfer agreement with German re/insurer Schwarzmeer und Ostsee Versicherungs-Aktiengesellschaft (SOVAG). The legacy portfolio will be transferred to DARAG’s German risk carrier, DARAG Deutsche Versicherungs- und Ruckversicherungs …

Legacy Acquisition Firm DARAG Buys UK Insurer, The Underwriter

DARAG Group Ltd., a Malta-based legacy acquirer, announced the acquisition of The Underwriter Insurance Co. Ltd., a UK-based insurer in run-off. The transaction will be completed through DARAG Deutsche Versicherungs-und Ruckversicherungs-AG, DARAG’s German carrier. The acquisition is subject to regulatory …

Legacy Acquirer DARAG Purchases Book of Run-Off Business from UK’s One Re

DARAG Group Ltd., the Malta-based legacy acquirer, announced it has entered into agreement to buy a book of run-off business from One Re Ltd., a London-based non-life reinsurance company. The transaction will be conducted through DARAG’s German risk carrier, DARAG …

DARAG Enters Retrospective Quota Share Reinsurance Deal with Norway’s Protector

DARAG Group Ltd., the Malta-based legacy acquirer, announced it has entered into a retrospective quota share reinsurance agreement with Protector Forsikring, the Norwegian insurance company. DARAG’s German risk carrier, DARAG Deutsche Versicherungs-und Ruckversicherungs-AG, is the vehicle for the transaction, which …

Legacy Specialist Compre Completes 3 Run-Off Acquisitions

Compre, the London-based independent re/insurance legacy specialist, announced it has signed three transactions involving Basler Versicherung AG (Baloise), Helvetia Swiss Insurance Co. Ltd. (Helvetia), and an undisclosed European insurance group. Compre has acquired each company’s share of the Gibbon Pools, …

Generali to Sell Life Run-Off Portfolio of UK Branch to Reinsurance Group of America

Generali has signed an agreement to sell the life run-off portfolio of its UK Branch to a subsidiary of Reinsurance Group of America Inc., the St. Louis, Mo.-based life and health reinsurance company. The run-off portfolio, which consists of mainly …

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 …

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 …