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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

Why Are We Here?

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Perhaps Don Regan, the one-time Chief of Staff to President Reagan, best described what we do: “Some of us are like a shovel brigade that follow a parade down Main Street cleaning up.” Not that run-off is less than an honorable profession. We aren’t the glamour kids, though. We are the ghosts of mistakes past, of the failures that had many fathers when they were shiny new … [Read more...] about Why Are We Here?

Bygone Companies: Bannister’s Ballywick

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It is an unusual name, Julius. Christened, by my idealistic parents in the later 1950’s, named after the Czech anti-Nazi journalist Julius Fučík, and now with my work offices about a mile from where the Roman Emperor, Julius Caesar, invaded Britain in 55 / 54 B.C.; that serves as an introduction. I write, looking over my shoulder: “Beware the Ides of March,” the soothsayer’s … [Read more...] about Bygone Companies: Bannister’s Ballywick

RX for Runoff: Four Experts Expound

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Fred Pomerantz, Goldberg Segalla, and Connie O’Mara, O’Mara Consulting, had an opportunity to pose questions on the topic of rating run-off reinsurers to key players in the business: Gerry Glombicki, a Director of Fitch Rating Agency; Brian Johnston, a Senior Vice President and Chief Operating Officer of SOBC Corporation; Andrew Rothseid, President and CEO of RunOff Re.Solve … [Read more...] about RX for Runoff: Four Experts Expound

Bill Littel: Allstate’s All Round Achiever

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Global traveler Bill Littel feels that one has to take risks or lose the opportunity to move forward. Bill just returned from a vacation in Australia and is planning one to South America next winter. His travel advice to Americans is to not dress like an American, i.e. baseball cap, jeans and sneakers. Some of his favorite memories of savoring the tastes of local foods while … [Read more...] about Bill Littel: Allstate’s All Round Achiever

Where Do Values Spring From?

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In October 2014, AIRROC announced the third recipient of the Trish Getty Scholarship to a St. John’s University student. The annual award was established to honor the organization’s founding Executive Director. The 2014 honoree, Abigayle Claflin, and her grandfather recently met Trish for lunch… Abigayle Claflin, our 2014 recipient of the Trish Getty Scholarship Fund at St. … [Read more...] about Where Do Values Spring From?

Hydraulic Fracturing: A Retrospective of Key Legal Disputes in 2014 and Predictions for the Future

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In 2014, hydraulic fracturing (“fracking”) remained a hot national topic. Often making headlines, fracking also made its mark in litigation where key battles wound their way through the courts. Reviewing just some legal developments confirms the industry faces unique, sometimes prejudicial, challenges despite continued growth. For example, the Eighth Circuit’s decision in … [Read more...] about Hydraulic Fracturing: A Retrospective of Key Legal Disputes in 2014 and Predictions for the Future

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

AIRROC Awards Trish Getty Scholarship: At. John’s University Actuarial Science Senior Brian Kutza

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For the fourth year, AIRROC awarded the Trish Getty Scholarship to a St. John’s University student. This year’s award recipient is Brian Kutza, who is a senior, majoring in Actuarial Science. In presenting the award, Marianne Petillo shared some remarks from the namesake of the scholarship, former Executive Director, Trish Getty. Although she wasn’t able to be there in person, … [Read more...] about AIRROC Awards Trish Getty Scholarship: At. John’s University Actuarial Science Senior Brian Kutza

AIRROC Person(s) of the Year 2015: Reliance Insurance Company in Liquidation

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For the first time since the inception of the “AIRROC Person of the Year” Award, AIRROC has announced that this honor goes to a team of people — Reliance Insurance Company in Liquidation, arguably the largest Property & Casualty liquidation in history. Its distribution percentage to class (b) claimants has risen from 20% in December 2007 to 40%, with $381.6M distributed as … [Read more...] about AIRROC Person(s) of the Year 2015: Reliance Insurance Company in Liquidation

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