run-off News

Canada Pension Fund OMERS to Buy Stake in Fairfax Run-off Unit, RiverStone UK

Fairfax Financial Holdings Ltd. and OMERS, the pension plan for Ontario’s municipal employees, announced they have entered into an agreement where OMERS will acquire a 40% interest in Fairfax’s UK run-off group, RiverStone UK. The transaction gives RiverStone UK the …

VIBE Syndicate 5768 to Be Placed into Solvent Run-off

The board of VIBE Syndicate Management announced, effective Dec. 31, 2019, its Syndicate 5678 at Lloyd’s will be placed into a planned run-off. “It was with considerable regret that our board reached the conclusion that the business does not have …

Legacy Specialist Compre Buys 2nd Portfolio from Belgium’s AG Insurance

Compre, the London-based independent re/insurance legacy specialist, announced it has signed agreements to transfer an inwards reinsurance portfolio from AG Insurance SA for an undisclosed sum. The Belgian insurer’s portfolio comprises business in run-off across a range of lines and …

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 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, …

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 …

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 …