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In Memoriam of Terry Kelaher

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AIRROC honors the memory of our long-time friend Terry Kelaher who passed away recently after battling cancer and kidney disease.  Terry was a co-founder and vice chairman of AIRROC.  He joined Allstate Insurance Company in 1988 where he served as vice president and general manager of the company's Specialty Operations Division, responsible for the management of … [Read more...] about In Memoriam of Terry Kelaher

In Continental Europe, Legacy Transfer is a Tool for Operational Efficiency as Digitalisation Costs Increase

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This article first appeared in Insurance Day on the 10th of March 2020 Continental European insurance groups are turning to legacy transactions to reduce the cost and disruption to their      business of digital transformation.  The European legacy market is maturing – and it is operational efficiency that is becoming more and more of a key … [Read more...] about In Continental Europe, Legacy Transfer is a Tool for Operational Efficiency as Digitalisation Costs Increase

An Eye on the Exit

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AIRROC's Executive Director, Carolyn Fahey, pens article for Captive International.  Run-off is a corporate risk management tool giving insurers the flexibility to respond to the changing needs of its clients. It allows insurers to carve out lines or sell portfolios or entire captives, freeing them up to create new coverages, says Carolyn Fahey of the Association of … [Read more...] about An Eye on the Exit

The Legacy Roundtable – 2019

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Few in legacy circles would dispute that over the past three years the market has witnessed some of the most rapid change seen in decades. New deals from new sellers are steadily flowing into the market. New capital has arrived in the form of private equity and hedge fund money. And with both of these developments come new opportunities. The only thing missing is an … [Read more...] about The Legacy Roundtable – 2019

Global Insurance Run-Off Survey 2019

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We are pleased to release the results of the Global Insurance Run-off Survey 2019. There has been tremendous growth in the run-off sector in the last decade as it has developed into a key component of the insurance macro market.This survey, based on responses from a cross-section of global risk carriers, run-off acquirers and service providers, predicts that momentum will … [Read more...] about Global Insurance Run-Off Survey 2019

IRLA Celebrates 20 Years!

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Memorable Memories It is a momentous year as IRLA (The Association of Run-Off Companies as it was originally known) was formed 20 years ago. IRLA began as a city-based group of like-minded (re)insurance, intermediary and professional service companies and professionals, and has become an association with the international breadth of membership to influence the way in which … [Read more...] about IRLA Celebrates 20 Years!

Brexit: Whats going on?

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A good few eyes are focused on the daily, if not hourly, developing news on the UK’s departure from the European Union. What does it mean for the London Market and in turn for those who deal with its many participants both in the EU and throughout the rest of the world? The run-up to Brexit might have resonances of Y2K and the millennium bug but it is distinctly different. Y2K … [Read more...] about Brexit: Whats going on?

Is Reg. 68 Good for the Industry? A Chat with Dwyer, Broccoli and Brennan

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At the Commutation & Networking Forum in October, 2016, the authors sat down with Elizabeth Dwyer, Jack Broccoli and Christopher Brennan to talk about the Rhode Island statute. Ms. Dwyer is the Rhode Island Superintendent of Banking and Insurance in the Department of Business Regulation. Jack Broccoli is in the Rhode Island Department of Banking and Insurance and … [Read more...] about Is Reg. 68 Good for the Industry? A Chat with Dwyer, Broccoli and Brennan

Can U.S. Insurance Companies Afford Not to Restructure?

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Part 3: The case for expanding the Rhode Island Insurance Business Transfer to other lines of business Current global market conditions have increased pressure on business leaders to focus on efficient capital management with an eye towards long-term trends. Rhode Island’s amendments to Insurance Regulation 68 are the first step in providing greater flexibility to the U.S. … [Read more...] about Can U.S. Insurance Companies Afford Not to Restructure?

Sixth Circuit Follow-Up: Court Interventions in Arbitration Proceedings

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In the Fall 2016 edition of AIRROC Matters, we discussed a series of contentious arbitration disputes between Meadowbrook and National Union that led to a noteworthy Sixth Circuit decision concerning the involvement of courts in arbitration proceedings and the impact of ex parte communications. In August 2016, in Star v. National Union, 2016 WL 4394563, at *1 (6th Cir. 2016), … [Read more...] about Sixth Circuit Follow-Up: Court Interventions in Arbitration Proceedings

Lessons of ROM v. Continental: Who Decides Whether Claims are Timely and Under What Circumstances?

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Assume you are a reinsurer and you receive a number of arbitration demands. At least one of the demands pertains to a claim (“OLD CLAIM”) where you denied reinsurance coverage nearly 10 years ago. You agree to consolidate the arbitrations. You also name your arbitrator as a precaution because the treaties require that an arbitrator be named quickly and you still have to … [Read more...] about Lessons of ROM v. Continental: Who Decides Whether Claims are Timely and Under What Circumstances?

Clearing the Smoke: Legal Marijuana: An Insurable Risk

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George Washington reportedly grew it. Bill Clinton and Barack Obama have admitted to smoking it (although only one admitted to inhaling). A 2015 Gallup poll revealed that 44% of American adults have tried it. Twenty-three states have legalized it for medical use, and four have done so for recreational use. “It,” of course, is marijuana, also known as cannabis, weed, or pot. … [Read more...] about Clearing the Smoke: Legal Marijuana: An Insurable Risk

Let’s Make a Deal: Current Trends in Buying and Selling Runoff Business and Blocks

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David Schieldrop, Managing Director and Global Co-Head of the Insurance Investment Banking Division of Barclays, Sylvain Villeroy de Galhau, EVP of AXA Liabilities Managers, and David Alberts, Partner at Mayer Brown, shared their insights on the current marketplace for buying and selling runoff business. The consensus of the panel was that market conditions – including downward … [Read more...] about Let’s Make a Deal: Current Trends in Buying and Selling Runoff Business and Blocks

Commutations – A Historical Perspective

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When the opportunity arose to put together an article for AIRROC Matters on the historical perspective of commutations, I agreed as long as: (a) it could be a bit irreverent to the sacred beliefs of our industry, and (b) I could seek collaboration. As you will see, they agreed to both points. I decided to go back to 1986 when I was hired at Continental Insurance as the … [Read more...] about Commutations – A Historical Perspective

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