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Challenges of Reserving Federal Black Lung Liabilities

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Christine M. Fleming and Alex M. York, of Milliman provided a compelling presentation on the complexities of federal black lung claims at the AIRROC Spring Membership meeting.  As coal continues to decline - the number of jobs nationwide fell to about 40,000 last year from 175,000 in the mid 1980s - you would anticipate that the number of claims for black lung occupational … [Read more...] about Challenges of Reserving Federal Black Lung Liabilities

DARAG acquires Guernsey reinsurance captive

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DARAG has acquired a Guernsey-based reinsurance captive, marking the group’s second transaction in Guernsey and reinforcing its position in the market and across Europe. Having been in run-off since 2019, the captive’s transaction with legacy acquirer DARAG is part of its cedant owner’s strategic alignment to streamline its business focus. The key business lines of the … [Read more...] about DARAG acquires Guernsey reinsurance captive

Swiss Re acquires Champlain Re in legacy deal

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Reinsurance giant Swiss Re has acquired Champlain Reinsurance Company (Champlain Re), a Swiss based run-off reinsurance captive of Alcan Holdings Switzerland AG, a member of Rio Tinto Alcan, in a legacy transaction. Champlain Re’s remaining reinsurance liabilities consist mainly of General Liability and Workers’ Compensation exposures of the Rio Tinto Alcan Group. The … [Read more...] about Swiss Re acquires Champlain Re in legacy deal

Meet Randi Ellias: Notable Woman in Reinsurance

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When Randi joined the Butler Rubin law firm in Chicago over 25 years ago, she was fresh out of law school and eager to get to work. She had served as a summer clerk at the firm and enjoyed the people and the firm culture. Her journey began in the area of reinsurance arbitration and litigation, and often she was the sole woman in the room. In fact, during her first reinsurance … [Read more...] about Meet Randi Ellias: Notable Woman in Reinsurance

Number of completed mergers and acquisitions rose in 2021: Clyde & Co

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The number of completed merger and acquisition deals in the insurance sector last year leaped from 407 to 418, according to Clyde & Co’s latest Insurance Growth Report. The report said that the surge was driven by a particularly strong second half of the year, which saw 221 deals, up from 197 in the first six months. The Americas remained the most active region for … [Read more...] about Number of completed mergers and acquisitions rose in 2021: Clyde & Co

AIRROC Welcomes New Member Acrisure Re

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AIRROC is pleased to announce the addition of Acrisure Re as a new Member.  AIRROC looks forward to working with the Acrisure Re team on a number of initiatives and to incorporate them into our network with the shared goal of delivering greater service to the legacy community. As a leading independent (re)insurance broking and advisory firm with a deep understanding of both … [Read more...] about AIRROC Welcomes New Member Acrisure Re

NextGen Task Force Corner

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The NextGen Task Force wasted no time and came quick out of the gate in 2022 with an education webinar on January 26th.  The webinar brought together AIRROC's NextGen Task Force and the IRLA Young Professionals Group (“YPG”) to compare and contrast the UK and the US perspectives for two big claims issues – abuse/molestation and sports head injuries. Hosted by AIRROC and … [Read more...] about NextGen Task Force Corner

2022 insurance industry forecast: trends and future risks

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Resilience will be the overarching theme for 2022. However, whilst last year necessitated a faster pace of change than was perhaps ideal, looking forward, insurers will want to continue to adapt to protect their operations, market and promote customer retention. Customer demand for more interactive and efficient digital platforms and products is set to continue, which will … [Read more...] about 2022 insurance industry forecast: trends and future risks

Genesis Legacy Solutions Completes ADC for AMS RRG

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 Genesis Legacy Solutions (“GLS”), part of Maiden Holdings, Ltd. (NASDAQ: MHLD), announced today an agreement to provide an adverse development cover (“ADC”) to Arizona-based Applied Medico-Legal Solutions Risk Retention Group (“AMS”). AMS provides medical professional liability coverage to individual physicians and physician groups, and today is one of the nation’s premier … [Read more...] about Genesis Legacy Solutions Completes ADC for AMS RRG

Expanding our Network: AIRROC Welcomes New Member and Two New Corporate Partners

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AIRROC is excited to announce the addition of the Arkansas Insurance Department as a new Member and two new Corporate Partners: ANS Solutions, LLC and Gerber Ciano Kelly Brady, LLP.  What a great way to kick off the New Year by expanding our network with the addition of these quality organizations. We are delighted to have the Arkansas Insurance Department, ANS Solutions, LLC … [Read more...] about Expanding our Network: AIRROC Welcomes New Member and Two New Corporate Partners

AIRROC Announces New Board Leadership, Officers and Directors for 2022

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AIRROC is pleased to announce our 2022 slate of Officers.  Heading up the board are Chair Bill Goldsmith (AIG) and Vice Chair Betsy Mitchell (A.G. Risk Management).  Marianne Petillo (ROM) will continue to serve as Treasurer, Megan McHugh (Brandywine) as Secretary and Robert Hendel (Guy Carpenter) as Accountant. Immediate Past Chair, Bill Teich (The Hartford) rotated off as … [Read more...] about AIRROC Announces New Board Leadership, Officers and Directors for 2022

Fortitude Re finalises acquisition of AIG’s legacy insurance business

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Fortitude Group Holdings, LLC, the parent of Bermuda-based reinsurer Fortitude Re, has now completed its takeover of AIG’s legacy insurance businesses following the acquisition of Fortitude Life & Annuity Solutions, Inc. (FLAS) and Fortitude P&C Solutions, Inc. (FPCS). It was announced in late November 2019 that the Carlyle Group and T&D Holdings had partnered to … [Read more...] about Fortitude Re finalises acquisition of AIG’s legacy insurance business

The Hartford completes major sale

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It’s a done deal for Premia Holdings and The Hartford, after the latter’s sale of Navigators Holdings (Europe) NV and its subsidiaries secured the required approvals from the National Bank of Belgium and the Commissariat Aux Assurances in Luxemburg. The acquired business, subsidiaries of which include Antwerp-headquartered property and casualty insurer Assurances … [Read more...] about The Hartford completes major sale

The Excepted Foreign State Club Gets Bigger

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The Foreign Investment Risk Review Modernization Act (FIRRMA) gave the Committee on Foreign Investment in the United States (CFIUS) enhanced powers in August 2018.   Some reviews of foreign investments were mandated – especially investments in sensitive businesses by foreign governments and government-controlled entities.  For the first time, FIRRMA expressly authorized review … [Read more...] about The Excepted Foreign State Club Gets Bigger

Roll of the Dice

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The first IRLA Congress since May 2019 was a storming success. Nearly 300 The Legacy Professionals Association delegates from across the international legacy market attended this three times postponed annual event and many declared it to be the best Congress to date. It was clear that delegates were very keen to catch up with colleagues and friends, and to meet and develop new … [Read more...] about Roll of the Dice

Swiss Re eyes stake in India’s Paytm Insuretech for $123mn

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According to local reports, reinsurer Swiss Re is planning to make a Rs 920 crore (USD 123 million) investment in the Paytm Insuretech Private Limited (PIT) business of Indian financial services firm Paytm, through which it will take a 23% stake in the initiative. Paytm, which specializes in digital payment systems, e-commerce and finance, plans to leverage its customer base … [Read more...] about Swiss Re eyes stake in India’s Paytm Insuretech for $123mn

NextGen Task Force Corner

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The bi-weekly podcast series is designed to introduce young professionals to the legacy (re)insurance space. You can find our podcasts on the AIRROC website under the Education tab or HERE. Episode 3: Marcus Doran, Senior Director of Commutations and Reinsurance Finance at AIG, stops by to discuss his legacy career. Marcus also provides his theories on why the insurance … [Read more...] about NextGen Task Force Corner

Making a run for it

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This article was originally published in the Captive Insurance Times, issue number 233 and is republished here with permission. Carolyn Fahey of AIRROC and James Cameron of PwC UK discuss the current state of the run-off market, and how legacy solutions can be utilised to help insurers take advantage of the hardening market In the current environment of a hardening … [Read more...] about Making a run for it

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