Please see the link below to view notice of a proposed insurance business transfer involving Aioi Nissay Dowa Insurance Company, Ltd. (“ADI”) (as regards certain reinsurance contracts which are administered in the UK by or on behalf of ADI, acting through its UK branch) and RiverStone Insurance (UK) Limited. Please click the link for further information on the … [Read more...] about Proposed Transfer from Aioi Nissay Dowa Insurance Company, Ltd. to RiverStone Insurance (UK) Limited
Latest News
David Scasbrook Named AIRROC Person of the Year for 2019
New Jersey, October 21, 2019 The Association of Insurance and Reinsurance Run-Off Companies (AIRROC) has posthumously named David Scasbrook as the winner of the 2019 Person of the Year award. 2019 marks the 15th year that AIRROC has bestowed this annual award. The award was announced on October 21 at AIRROC’s 15th Annual Forum in Jersey City, NJ. This award is … [Read more...] about David Scasbrook Named AIRROC Person of the Year for 2019
An Eye on the Exit
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
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
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
Legacy Roundtable 2019
AIRROC's Executive Director, Carolyn Fahey, participated in the Insurance Insider’s annual Legacy Roundtable with many of the most influential business leaders in the legacy market in what proved to be a thoughtful and engaging discussion around what a legacy carrier needs not just to survive, but to thrive in the new market norm. Read more by clicking on this link. … [Read more...] about Legacy Roundtable 2019
Karen Amos, “Outgoing” Board Member
After serving on AIRROC’s board for 14 years, most recently as Chair of the Education Committee, Karen Amos stepped down effective January 1, 2019. Resolute nominated Arvind Krishnamurthy to run for Karen’s spot, and the AIRROC membership elected him in the October 2018 election cycle for a three-year term. As Chief Operating Officer of Resolute Management Services Limited … [Read more...] about Karen Amos, “Outgoing” Board Member
Grabbing the Baton: Meet the New AIRROC Board Members 2019
AIRROC continues to attract talented, experienced, and committed members to serve on its board. Please join us in welcoming Eleni Iacovides, Arvind Krishnamurthy, and Bill Bouvier as the newest members. To encourage our readers to get to know each of them better, we include a “conversational gambit” about each. Eleni Iacovides, Group Chief Client Officer at DARAG Group Ltd., … [Read more...] about Grabbing the Baton: Meet the New AIRROC Board Members 2019
Interview of Thomas Workman
Fran Semaya and Fred Pomerantz, members of the AIRROC Publication Committee, had the pleasure of interviewing Thomas E. Workman for an AIRROC Matters exclusive. Tom, with over four decades of insurance background, was appointed as the Independent Member of the Financial Stability Oversight Council (FSOC), for a term of six years on March 29, 2018 after nomination by President … [Read more...] about Interview of Thomas Workman
Notice of Proposed Transfer of Certain Legacy Insurance Business
Please see the link and letter below to view information about the proposed transfer of insurance business from Royal & Sun Alliance Insurance plc (RSAI) and The Marine Insurance Company Limited (MIC) to Mercantile Indemnity Company Limited (Mercantile) under Part VII of the Financial Services and Markets Act 2000 (the Transfer). Further information, is available … [Read more...] about Notice of Proposed Transfer of Certain Legacy Insurance Business
AIRROC Congratulates Kayla Cecchine: Recipient of the 2018 Trish Getty Scholarship
AIRROC is pleased for the 7th year to have presented the Trish Getty Scholarship to a very deserving student. This year’s award recipient is Kayla Cecchine, who will graduate in May 2020 from Saint Joseph’s University in Philadelphia, PA. She is pursuing a double major in Risk Management Insurance and Business Intelligence and Analytics. In presenting the scholarship, AIRROC … [Read more...] about AIRROC Congratulates Kayla Cecchine: Recipient of the 2018 Trish Getty Scholarship
Luann Petrellis: AIRROC Person of the Year 2018
Luann Petrellis may be relatively new to the AIRROC network, but her experience in managing run-off portfolios and her most recent work on legislative reform efforts to support restructuring have fueled her rapid ascension into the AIRROC panoply of stars: The AIRROC Person of the Year Award of 2018. She joins past winners: Stephen Johnson (2017), William Flaherty (2016), The … [Read more...] about Luann Petrellis: AIRROC Person of the Year 2018
AXA Insurance UK plc – RiverStone Insurance (UK) Limited
Please see the link below to view notice of a proposed insurance business transfer involving RiverStone Insurance Limited (formerly known as Brit Insurance Limited) and RiverStone Insurance (UK) Limited. AXA Insurance UK plc – RiverStone Insurance (UK) Limited Please see the link below to view notice of a proposed insurance business transfer involving AXA … [Read more...] about AXA Insurance UK plc – RiverStone Insurance (UK) Limited
A-Ok in OK
Carolyn Fahey and Francine Semaya recently had the pleasure of interviewing Oklahoma Insurance Department Commissioner John Doak and others in the Department. They talked about the Oklahoma Senate Bill 1101, known as the Insurance Business Transfer Act, that was signed by Governor Mary Fallin on May 7, 2018. This new law provides an efficient mechanism for insurance companies … [Read more...] about A-Ok in OK
IRLA Celebrates 20 Years!
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!
Legacy Link: William Teich
With this edition, we are introducing Legacy Link, a new look and perspective that will replace our prior Spotlight column. In Legacy Link, we will highlight the personal side of the business. We hope to give our members a chance to connect by sharing professional experiences, hobbies and ideas that further our networking initiatives, and build our community of runoff claims … [Read more...] about Legacy Link: William Teich
Brexit: Whats going on?
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?
IRLA Legacy Roundtable
AIRROC’s Carolyn Fahey participated in The Insurance Insider Roundtable with other prominent players in the legacy market. It was held in May, 2018, during the annual IRLA Congress in Brighton, England. The Roundtable was a spirited and enlightening discussion on the current optimism in the legacy market, the impact of Brexit, and the overall outlook and trends for the legacy … [Read more...] about IRLA Legacy Roundtable
Results Are In… AIRROC Co-Sponsors First PwC Global Insurance Runoff Survey
In January 2018, we launched the eleventh edition of our run- off survey, in conjunction with both IRLA and, for the first time, AIRROC. Our survey was expanded to account for the worldwide nature of the run-off market and estimated the value of the global non-life run-off market to be at least US$730bn. It is no shock that the U.S. dominates the global market by value and, by … [Read more...] about Results Are In… AIRROC Co-Sponsors First PwC Global Insurance Runoff Survey
AIRROC Awards Trish Getty Scholarship
AIRROC presented the Trish Getty Scholarship to two very deserving St. Joseph’s University students. The 6th Annual award recipients are Ashley Myers and Samantha String, who are both juniors majoring in Risk Management and Insurance. The selection committee had a difficult time choosing between the two candidates so decided to split the scholarship for the first time in its … [Read more...] about AIRROC Awards Trish Getty Scholarship
