AIRROC Update

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The AIRROC Community Continues to Grow

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AIRROC is pleased to announce that Gallo Vitucci Klar LLP has joined as a new Corporate Partner. AIRROC is delighted to expand its network and extends a warm welcome to its newest Corporate Partner. We look forward working with Gallo Vitucci Klar LLP on a number of initiatives and to incorporate them into our network with the shared goal of delivering greater service to the … [Read more...] about The AIRROC Community Continues to Grow

AIRROC Announces New Board Leadership, Officers and Directors for 2025

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AIRROC has announced its board leadership for 2025. The officers are Chair Tom Mendralla (Swiss Re), First Vice Chair Dawn Ballin (Enstar), and Second Vice Chair Stewart Richmond (RiverStone Group). The board supporting officers are Marianne Petillo (ROM) as Treasurer, Megan McHugh (Brandywine) as Secretary, and Robert Romano along with Victoria Corder (Norton Rose) as the … [Read more...] about AIRROC Announces New Board Leadership, Officers and Directors for 2025

DARAG & wefox transfer run-off portfolio

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DARAG Group and wefox Insurance AG, the Liechtenstein-domiciled insurance carrier of wefox Group, has announced the transfer of a run-off portfolio including motor damage and third party liability, private liability and property business across Germany, Italy and Switzerland.  The transfer of the portfolio is related to the previously announced sale of wefox Insurance AG to … [Read more...] about DARAG & wefox transfer run-off portfolio

RiverStone International signs RITC contract for HRP Syndicate 2689’s 2022 year of account

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LONDON: 17 February 2025 – RiverStone International, the leading acquirer of legacy business in the Lloyd’s market, today announced that it has signed a reinsurance to close contract with Asta Managing Agency, under which the 2022 underwriting year of account of Hampden Risk Partners (HRP) Syndicate 2689 will close into Riverstone International Syndicate 3500.  The net … [Read more...] about RiverStone International signs RITC contract for HRP Syndicate 2689’s 2022 year of account

Enstar Legacy Syndicate 2008 Agrees $196M LPT Deal with Atrium Syndicate 609

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HAMILTON, Bermuda, Jan. 14, 2025 (GLOBE NEWSWIRE) -- Enstar Group Limited (“Enstar”) (Nasdaq: ESGR) announced today its Lloyd’s syndicate (“Syndicate 2008”), managed by Enstar Managing Agency Limited, has agreed a ground-up loss portfolio transfer (“LPT”) with Atrium Syndicate 609, managed by Atrium Underwriters Limited. The transaction involves Syndicate 609’s discontinued … [Read more...] about Enstar Legacy Syndicate 2008 Agrees $196M LPT Deal with Atrium Syndicate 609

5 Top Trends for Risk Capital in 2025

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The re/insurance industry is in a transformative cycle driven by a convergence of systemic risks reshaping market dynamics. The interplay between economic pressures, geopolitical shifts and environmental challenges creates a complex backdrop for businesses navigating their risk management strategies. Risk financing is also evolving at an unprecedented pace, with a growing … [Read more...] about 5 Top Trends for Risk Capital in 2025

Non-life insurance run-off deals – 2024 year-end review

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The final quarter of 2024 saw 9 publicly announced deals, transferring $2.4bn in disclosed liabilities – capping off a significantly more active second half of the year for the insurance legacy market. 2024 deal activity by region North America again dominated with 58% of disclosed transactions in 2024, followed by the UK & Ireland at 27%. … [Read more...] about Non-life insurance run-off deals – 2024 year-end review

NextGen Partners with Mound Cotton on Arbitration Workshop

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AIRROC NextGen and Mound Cotton Wollan & Greengrass cohosted a luncheon event entitled “Basics of Arbitration Workshop: The Key Things for Insurance Professionals to Know” at the October Transactions & Networking Forum. The workshop featured a wealth of insights and experiences from industry veterans, including Judy Harnadek, Marianne Petillo, Larry Greengrass, Sue … [Read more...] about NextGen Partners with Mound Cotton on Arbitration Workshop

Legends of the Fall – Recent Developments That May Turn the Tide on NY Labor Law Construction Claims

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Christopher Carucci, Vice President of Client Services and Litigation Management at Gallagher Bassett Services, Sean Keely, a Partner with Smith Gambrell & Russell, LLP, and Andrea Silk, a partner with Gallo Vitucci Klar, LLP provided valuable insight into handling and litigating New York Labor Law Claims.  A video replay of this presentation is available on the AIRROC On … [Read more...] about Legends of the Fall – Recent Developments That May Turn the Tide on NY Labor Law Construction Claims

AIRROC Reveals 2024 NextGen Leadership Award Winners

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Layla Trummer and Natalie Weedman were named co-recipients of this year’s AIRROC NextGen Leadership Award at the 2024 AIRROC Legacy Transactions & Networking Forum. Layla Trummer is a Senior Underwriter at Allianz Reinsurance America, Inc. She has been an active member of AIRROC NextGen for two years and currently serves as the Co-Chair of the NextGen Council. Within mere … [Read more...] about AIRROC Reveals 2024 NextGen Leadership Award Winners

Ever Expanding

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AIRROC is excited to announce the addition of Nationwide Indemnity as a new Member to our ever-expanding network. You may have meet some of the Nationwide delegates at the October 2024 Legacy Transaction & Networking Forum who were first time attendees. What a great way to kick off their membership and experience the benefits of AIRROC and the quality of our network.  We … [Read more...] about Ever Expanding

Hats Off to New Recipients of CLP Designation!

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One of the highlights of the 2024 Legacy Transactions & Networking Forum was awarding the Certified Legacy Professional ("CLP”) designation to several legacy professionals who have completed the necessary coursework.  The CLP designation recognizes our band of brethren who have demonstrated specialized professional knowledge and experience in the legacy sector. … [Read more...] about Hats Off to New Recipients of CLP Designation!

Charting Our Path: Minority Narratives in the Corporate World

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This presentation on diversity, equity and inclusion featured Kristen Kish with Mound Cotton Wollen Greengass LLP, Stéphane Louis with Enstar, Lee Vuu with Argo Group US, and was moderated by Jose Martinez Jr., VP of legacy solutions at Swiss Re. At the start of the meeting, Jose pointed out the diversity of the panel itself, this being important to note because of the … [Read more...] about Charting Our Path: Minority Narratives in the Corporate World

The Legacy Market “Buy-Side” and The Impact of Private Equity

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David Luce, a Partner with Willkie Farr & Gallagher LLP moderated a panel that examined the new entrants in the run-off market buy-side, recent M&A activity, and market entrances and exits. The panelists also discussed the motivation of private equity in run-off, and the impacts of private equity firms taking ownership of certain major players.  The panelist included … [Read more...] about The Legacy Market “Buy-Side” and The Impact of Private Equity

Ambac gets shareholder approval for sale of legacy financial guarantee businesses

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Ambac Financial Group, the insurance holding company, has announced that its shareholders have voted to approve the proposed purchase agreement under which funds managed by Oaktree Capital Management LP will acquire its legacy financial guaranty businesses: Ambac Assurance Corporation and Ambac Assurance UK Limited. The deal was first announced in June 2024, where we … [Read more...] about Ambac gets shareholder approval for sale of legacy financial guarantee businesses

AIRROC Welcomes Elaine Rocha, Esq., former Global Chief Investment Officer of AIG as Keynote Speaker

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AIRROC was honored to have Elaine Rocha, Esq., most recently the former Senior Vice President and Global Chief Investment Officer of AIG as the opening keynote speaker for the October 2024 Legacy Transactions & Networking Forum.  A Jersey girl hailing from Asbury Park she is, no surprise, an enthusiastic fan of The Boss, Bruce Springsteen. She describes how she “fell into” … [Read more...] about AIRROC Welcomes Elaine Rocha, Esq., former Global Chief Investment Officer of AIG as Keynote Speaker

Non-life insurance run-off deals review Q3 2024

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Q3 2024 saw 15 deals disclosed, almost double the number of deals in the first half of the year, bringing the total deal numbers to 23 year to date. North America was the most active territory in Q3, with ten deals disclosed and the six with disclosed deal values transferring a combined $2.6bn of gross reserves. The UK and Ireland also saw four deals announced in Q3 … [Read more...] about Non-life insurance run-off deals review Q3 2024

Ardit Kerimi Awarded the 2024 Trish Getty Scholarship

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AIRROC and AIRROC’s NextGen Council honored the 2024 Trish Getty Scholarship recipient, Ardit Kerimi, during the awards ceremony at the October Legacy Transactions & Networking Forum in Jersey City, NJ. Since 2012, the $5,000 Trish Getty Scholarship has been awarded to an exceptional undergraduate student studying insurance, risk management, or actuarial science. The … [Read more...] about Ardit Kerimi Awarded the 2024 Trish Getty Scholarship

Artificial Intelligence for Insurance Professionals

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Annamarie Giblin, a Partner with Norton Rose Fulbright presented on the topic of  artificial intelligence (known as "AI") technology and its related legal concerns tailored for insurance professionals.  A video replay of this presentation is available on the AIRROC On Demand platform. Currently, the proliferation and power of AI is the subject of intense debate. This … [Read more...] about Artificial Intelligence for Insurance Professionals

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