HAMILTON, Bermuda, April 07, 2023 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that its wholly-owned subsidiaries have closed a Loss Portfolio Transfer transaction with certain subsidiaries of QBE Insurance Group Limited (“QBE”) on a diversified portfolio of business, covering International and North America financial lines, European and North … [Read more...] about Enstar Completes Loss Portfolio Transfer With QBE
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Smith Gambrell Russell and Freeborn & Peters Complete Combination to Create Global Am Law 150 Firm
ATLANTA and CHICAGO (April 1, 2023) – Smith, Gambrell & Russell, LLP and Freeborn & Peters, LLP announced today that they have completed their combination, effective April 1, creating a global Am Law 150 law firm operating under the Smith Gambrell Russell name. The combined firm is led by SGR managing partner and executive committee chair, Stephen M. Forte, with legacy … [Read more...] about Smith Gambrell Russell and Freeborn & Peters Complete Combination to Create Global Am Law 150 Firm
Where AI Can Make Dramatic Impacts in Run-Off Transactions
The 2023 Spring Membership Meeting education program included a presentation on the hot topic of artificial intelligence. Rooney Gleason, Chief Insurance Officer at Evolution IQ and Adam Fisher, Chief Data Officer at Sedgwick served as panelist with Marcus Doran, Senior Director Commutations at AIG as the moderator. A video replay of this presentation is available in the … [Read more...] about Where AI Can Make Dramatic Impacts in Run-Off Transactions
More On ChatGPT And Insurance Coverage
At the end of February, I did an article, for a Coverage Opinions email blast, that shared the results of my ChatGPT insurance coverage test. I had asked the much talked-about artificial intelligence platform – that offers answers to questions in human-like conversation – what it knew about insurance coverage. Very simple. I asked five very specific questions with answers … [Read more...] about More On ChatGPT And Insurance Coverage
Hogan Lovells joins the AIRROC Community!
AIRROC is please to announce the addition of Hogan Lovells to our every expanding group of legacy professionals and extends a warm welcome to them as a new Corporate Partner. AIRROC looks forward to collaborating with Hogan Lovells on a number of initiatives that advance the AIRROC mission and the legacy industry. Hogan Lovells is a global law firm co-headquartered in London … [Read more...] about Hogan Lovells joins the AIRROC Community!
What’s new with the AIRROC DRP?
We have all heard and read: “AIRROC’s Vision is to be the most valued (re)insurance industry educator and network provider for issue resolution and creation of optimal exit strategies.” That phrase is recited at every AIRROC Board meeting. AIRROC’s educational content and its networking forums are the instrumentalities of that vision. But, while those events help us build a … [Read more...] about What’s new with the AIRROC DRP?
Potential Impact of the Silicon Valley Bank Insolvency on the Insurance Industry
Financial institutions, including Insurers, are considering the potential impact of the Silicon Valley Bank’s (“SVB’s”) insolvency. SVB and its parent holding company have provided funding and debt financing to InsurTech Insurers and other venture investment firms. Some of those Insurers have already publicly announced the extent to which the SVB Insolvency has had an impact. … [Read more...] about Potential Impact of the Silicon Valley Bank Insolvency on the Insurance Industry
SiriusPoint and Compre announce second significant reinsurance Loss Portfolio Transfer
SiriusPoint Ltd. (“SiriusPoint”), NYSE-listed (SPNT) global underwriter, and Compre, the Bermuda headquartered international legacy group, today announce that they have signed an agreement for a ground-up Loss Portfolio Transfer (“LPT”) on a diversified portfolio of primarily reinsurance business. The transaction’s inception is subject to regulatory approvals and other … [Read more...] about SiriusPoint and Compre announce second significant reinsurance Loss Portfolio Transfer
Enstar to Enter $1.9 Billion Loss Portfolio Transfer with QBE
HAMILTON, Bermuda, Feb. 16, 2023 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that its wholly-owned subsidiaries have reached an agreement for a ground-up Loss Portfolio Transfer (“LPT”) with certain subsidiaries of QBE Insurance Group Limited (“QBE”) on a diversified portfolio of business, covering International and North America financial lines, … [Read more...] about Enstar to Enter $1.9 Billion Loss Portfolio Transfer with QBE
Where Are They Now? 2017 Trish Getty Scholarship recipient: Samantha String
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. After presenting the award to our newest recipient Lori-Ann Knight at the October 2022 AIRROC Conference, we wanted to catch up with a few prior recipients. … [Read more...] about Where Are They Now? 2017 Trish Getty Scholarship recipient: Samantha String
AIRROC Continues to Build its Network Welcoming New Member and Corporate Partner
AIRROC extends a warm welcome to the Illinois Department of Insurance as a new Member and Chaffetz Lindsey as a new Corporate Partner. What a terrific way to start off 2023 by expanding our network with the addition of these quality organizations. We are delighted to have the Illinois Department of Insurance and Chaffetz Lindsey join the AIRROC community and we look forward to … [Read more...] about AIRROC Continues to Build its Network Welcoming New Member and Corporate Partner
Davies strengthens its global consulting and technology capability through the acquisition of US based insurance specialist consulting business MVP Advisory Group
Davies, the leading specialist professional services and technology business, serving insurance and highly regulated markets, today announced the acquisition of MVP Advisory Group, LLC (“MVP”), the consulting business specialising in advisory & transformation projects for the property & casualty and life & health insurance markets. With headquarters in Chicago, … [Read more...] about Davies strengthens its global consulting and technology capability through the acquisition of US based insurance specialist consulting business MVP Advisory Group
RiverStone International Announces Loss Portfolio Transfer Deal with AXIS Capital
Pembroke, Bermuda, December 15, 2022 - RiverStone International today announced that it has entered into loss portfolio transfer (“LPT”) reinsurance agreements with affiliates of AXIS Capital Holdings Limited ("AXIS Capital" or “AXIS” or “the Company”) (NYSE: AXS), which cover several of its professional lines and liability insurance portfolios, predominantly relating to 2019 … [Read more...] about RiverStone International Announces Loss Portfolio Transfer Deal with AXIS Capital
R&Q and OBRA Invest in Joint Venture to Acquire Legacy Liabilities of MSA Safety
NEW YORK, January 6, 2023 – R&Q Insurance Holdings Ltd (“R&Q”) and Obra Capital, Inc. (“Obra”) today announced that they have acquired, through a newly formed joint venture, a wholly owned subsidiary of global safety equipment manufacturer MSA Safety Incorporated (“MSA Safety”). The acquired subsidiary (the “Company”) holds product liability claims relating to coal … [Read more...] about R&Q and OBRA Invest in Joint Venture to Acquire Legacy Liabilities of MSA Safety
US NAIC Fall 2022 National Meeting Highlights
The US National Association of Insurance Commissioners (“NAIC”) held its National Fall Meeting from December 12 through December 16. Check out Mayer Brown’s updates from the US NAIC Fall 2022 National Meeting. Read More... … [Read more...] about US NAIC Fall 2022 National Meeting Highlights
Third Circuit Dismisses Chapter 11 Filing by Johnson & Johnson Subsidiary Formed to Segregate Talc Liabilities
In a closely watched decision, the Court of Appeals for the Third Circuit ordered the dismissal of the Chapter 11 petition of LTL Management, LLC, the entity created by Johnson & Johnson to hold J&J’s talc-related liabilities in a divisional merger process under Texas law. Reversing the Bankruptcy Court for the District of New Jersey, the Third Circuit held that … [Read more...] about Third Circuit Dismisses Chapter 11 Filing by Johnson & Johnson Subsidiary Formed to Segregate Talc Liabilities
AIRROC Confirms Board Leadership and New Directors for 2023
AIRROC is pleased to announce that its board leaders remain the same for a second year in a row. Heading up the board are Chair Bill Goldsmith (AIG), along with Co-Vice Chairs Tom Mendralla (Swiss Re) and Betsy Mitchell (A.G. Risk Management). The board supporting officers are Marianne Petillo (ROM), Treasurer, Megan McHugh (Brandywine), Secretary and Susan Aldridge (Norton … [Read more...] about AIRROC Confirms Board Leadership and New Directors for 2023
Managing the Evolving Risks and Expectations Regarding Corporate ESG Disclosure
Kevin Harnisch, Head of White Collar and Co-Head of Regulation, Investigations, Securities, and Compliance at Norton Rose Fulbright moderated a panel that dissected the interplay between litigation, insurance, and the reinsurance and legacy worlds vis-à-vis ESG. The panel consisted of John O’Bryan, Partner at Freeborn & Peters, Maureen Gorman, Managing Director at Marsh, … [Read more...] about Managing the Evolving Risks and Expectations Regarding Corporate ESG Disclosure
Corporate Liabilities Deals
The evolving market for restructuring and managing long-tail legacy corporate liabilities was the topic of the presentation entitled “Corporate Liabilities Deals.” The panelists included Peter Calleo, Vice President, Senior Legal Counsel, M&A, Investments and Commercial Contracts, Enstar, Andy Hill, Partner, Structured Solutions, McGill & Partners, Robert Hut, CEO, Fara … [Read more...] about Corporate Liabilities Deals
The Legacy Dealmaking Landscape: What do YOU think??
Expect another strong year for the legacy deal marketplace, say a panel of experts during an audience interactive session at the 2022 AIRROC Legacy Transactions & Networking Forum. Mayer Brown LLP Partner, David Alberts, chaired the panel that included Edward S. Hochberg, Head of Global Risk Solutions, Managing Director, Guy Carpenter, Laura Pearson, Senior Manager, PwC, … [Read more...] about The Legacy Dealmaking Landscape: What do YOU think??
