A well-kept secret was revealed at the 2023 AIRROC Legacy Transactions & Networking Forum this October. AIRROC established a new award that was announced for the first time - the AIRROC NextGen Leadership Award. This award acknowledges and celebrates the accomplishments and exemplary leadership of one of the NextGen members that has really made an impact over the course … [Read more...] about AIRROC Unveils New Leadership Award Established to Recognize NextGen Professionals
Latest News
Global Economic and Geopolitical Risks: Trends and Challenges Impacting Insurance and Reinsurance Markets
AIRROC kicked off its 2023 Legacy Transactions & Networking Forum with keynote speaker Dr. Robert Hartwig, Director of the Risk Management and Uncertainty Center at the University of South Carolina. Dr. Hartwig took us on a whirlwind tour of the global economic and geopolitical forces shaping the outlook for the property casualty insurance market and helped us understand … [Read more...] about Global Economic and Geopolitical Risks: Trends and Challenges Impacting Insurance and Reinsurance Markets
Notes from the Battlefield: Navigating Reinsurance Disputes
Moderated by Guyon Knight, a panel consisting of Larry Greengrass, Debra Hall, Russel Bogen, and Frank DeMento engaged in a comprehensive discussion on the challenges and unique issues arising from reinsurance transactions. A video replay of this presentation is available on AIRROC’s On Demand plateform. Here, we distill their insights into ten key points: 1. Legacy … [Read more...] about Notes from the Battlefield: Navigating Reinsurance Disputes
Going retro: How recycling capital through customised and structured solutions can generate better returns
A tougher economic backdrop combined with a tightening of reinsurance capacity is prompting Asia Pacific insurers to look at optimising their balance sheets and consider new operating models. Jim Atwood and Roshan Perera explore the rising popularity of retrospective solutions in the region. Reinsurance renewals during 2023 revealed a strong emphasis on price and contract … [Read more...] about Going retro: How recycling capital through customised and structured solutions can generate better returns
Getting to Know Paul Brockman, AIRROC 2023 Person of the Year
AIRROC is proud to announce that it has chosen Paul Brockman, Enstar Group Chief Operating Officer and Chief Claims Officer, as its Person of the Year. This honor is bestowed annually on an individual or team that has made a significant contribution to the run-off industry and who has demonstrated the vision and creativity that make our work a vital part of the insurance … [Read more...] about Getting to Know Paul Brockman, AIRROC 2023 Person of the Year
Actuarial Student Jacob Hayes Awarded the 2023 Trish Getty Scholarship
AIRROC in conjunction with the NextGen Council was excited to present the 2023 Trish Getty Scholarship to Jacob Hayes during an awards ceremony at the October Legacy Transactions & Networking Forum. Each year since 2012, a $5,000 scholarship has been presented to an exceptional undergraduate student studying insurance, risk management or actuarial science. Students apply … [Read more...] about Actuarial Student Jacob Hayes Awarded the 2023 Trish Getty Scholarship
Monte Carlo le résumé
The 2023 Rendez-Vous de Septembre – in its 65th year – is the annual gathering of the reinsurance market in Monte Carlo. I had a very busy few days in Monte Carlo attending events organized by IRLA, PwC, Guy Carpenter, and Gallagher – just to name a few. I enjoyed meeting with a number of our members and of course sharing the benefit of AIRROC with those that are potential … [Read more...] about Monte Carlo le résumé
Paul Brockman named AIRROC “Person of the Year” for 2023
The Association of Insurance and Reinsurance Run-Off Companies (AIRROC) has selected Paul Brockman, Enstar Group’s Chief Operating Officer and Chief Claims Officer, as the recipient of their annual “Person of the Year” award for 2023. This is the 19th year that AIRROC has bestowed this annual award. The award was announced on October 16 at AIRROC’s annual Legacy Transactions … [Read more...] about Paul Brockman named AIRROC “Person of the Year” for 2023
Retrospective solutions: Where legacy and reinsurance meet
In recent years the retrospective market has evolved considerably, relieving (re)insurers of unwanted prior-year liabilities (PYL) in new ways and in greater volumes. Some recent transactions would not have been possible five years ago, yet the conditions now exist for further significant advances in the next two years. While retrospective solutions are many and varied, they … [Read more...] about Retrospective solutions: Where legacy and reinsurance meet
NextGen Council Corner
The NextGen Council is excited to launch its latest initiative! September is the kick-off of the AIRROC NextGen #WhatIsLegacy series on LinkedIn. With the goal to spread awareness about the Legacy space and the opportunity it offers, NextGen is featuring comments from Legacy professionals about their own industry. Check out some of the early comments from well-known industry … [Read more...] about NextGen Council Corner
Compre completes acquisition of Covéa subsidiary
Compre Group Holdings Limited (“Compre”), the Bermuda headquartered international legacy group, today announces the completion of its acquisition of the Irish subsidiary of Covéa, Medical Insurance Company DAC (MIC), which provided insurance policies covering professional medical malpractice risks. MIC entered into run-off in 2015. Read More... … [Read more...] about Compre completes acquisition of Covéa subsidiary
Enstar Announces Adverse Development Cover Agreement with AIG
HAMILTON, Bermuda, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly-owned subsidiaries has signed an agreement with American International Group, Inc. (“AIG”) to provide AIG with protection against adverse development on the portion of Validus Re’s loss reserves that AIG retains exposure to following the closing of … [Read more...] about Enstar Announces Adverse Development Cover Agreement with AIG
Congress Reflection
Success is best when shared. Check out IRLA’s flipbook reflection on this year’s Congress. Read More... … [Read more...] about Congress Reflection
Alternative capital flat at $100bn high at mid-year 2023: Aon
Alternative reinsurance capital, largely deployed in insurance-linked securities (ILS) formats, remained static at its $100 billion at the mid-point of 2023, according to insurance and reinsurance broker Aon. The latest analysis of global reinsurance capital from Aon’s Reinsurance Solutions division, presented just prior to the annual Monte Carlo Rendez-Vous reinsurance … [Read more...] about Alternative capital flat at $100bn high at mid-year 2023: Aon
Global Life and Health Insurance Mergers and Acquisitions (M&A)
Each year, Milliman studies the trends in mergers and acquisitions (M&A) of global health and life insurance companies, with a particular focus on data and deals in North America, Europe, and Asia. In 2022, life and health insurance transaction activity was down sharply. Our research points to the likely causes and projects the landscape for future life and health insurance … [Read more...] about Global Life and Health Insurance Mergers and Acquisitions (M&A)
Beware the “Quadrigoof”: Avoiding Four Common Mistakes in Negotiations
Negotiation Strategies: Tips for Establishing Connection and Optimizing Results Series: Part 6 We all negotiate, every day. It runs the gamut from the boardroom to the bedroom and everywhere in between. People try to win over their counterpart with reasoned arguments, pithy anecdotes, or just plain emotion. Career negotiators feel they do it fairly well, making fewer … [Read more...] about Beware the “Quadrigoof”: Avoiding Four Common Mistakes in Negotiations
The AIRROC 19TH Annual NJ Legacy Transactions and Networking
Registration is now Open! AIRROC looks forward to reuniting with our legacy colleagues from Sunday, October 15 through Tuesday October 17, 2023. The legacy sector’s “must attend” event offers many of the highlights we all expect as well as some new additions to the schedule this year. Changes include offering a Mexican Fiesta dinner as our delegates arrive on Sunday, Robert … [Read more...] about The AIRROC 19TH Annual NJ Legacy Transactions and Networking
SiriusPoint Completes $1.3B Reinsurance Loss Portfolio Transfer With Compre
SiriusPoint Ltd., the Bermuda-based re/insurer, announced it has completed a ground-up loss portfolio transfer (LPT) of a portfolio of primarily reinsurance business with the legacy acquisition specialist Compre. This is the second LPT the companies have partnered on. Compre assumed approximately $1.3 billion of reserves and the LPT has been underwritten by Compre’s class 3B … [Read more...] about SiriusPoint Completes $1.3B Reinsurance Loss Portfolio Transfer With Compre
Where Are They Now? 2019 Trish Getty Scholarship recipient: Melissa Navrot
Established in 2012, an annual scholarship in honor of Trish Getty, founding Executive Director of AIRROC, is awarded to one exceptional undergraduate student studying insurance, risk management or actuarial science. AIRROC’s NextGen decided to catch up with a few past recipients and highlight where their careers have taken them. Natalie Weedman of the AIRROC NextGen Council … [Read more...] about Where Are They Now? 2019 Trish Getty Scholarship recipient: Melissa Navrot
Meet Our New Board Members
AIRROC is excited to introduce our newest Board Members and share a little about how they became involved with AIRROC and why they are passionate about the work we are doing for the legacy community. The AIRROC Board is comprised of a dedicated team of experienced industry leaders that channel their talent and energy into furthering our mission. Please join us in welcoming … [Read more...] about Meet Our New Board Members
