AIRROC’s Corporate Partner Catalina announces new partnership with British Lung Foundation. Hamilton, Bermuda – Catalina Holdings (Bermuda) Ltd (“Catalina”), an industry leader in the insurance legacy space, is pleased to announce a partnership with the British Lung Foundation, committing £5 million in funding to accelerate research into mesothelioma. Continue … [Read more...] about Catalina commits £5 million to mesothelioma research in partnership with the British Lung Foundation
Market Updates
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
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
NAIC Restructuring Mechanisms Working Group Continues its Study of IBTs and Corporate Division Statutes
AIRROC’s Corporate Partner Locke Lord provides a “Quick Study” on the NAIC’s Summer Meeting in New York on August 4, 2019; specifically the NAIC’s Restructuring Mechanisms Working Group progress on insurance business transfers and corporate division statutes. Read more by clicking on this link. … [Read more...] about NAIC Restructuring Mechanisms Working Group Continues its Study of IBTs and Corporate Division Statutes
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 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
The Legacy Market: Innovation. Flexibility. Creativity. Capital Appeal. That Order.
The insurance industry has shown through the years that it has a remarkable ability to respond to challenges, and to adopt and adapt, whether this relates to a new financial or regulatory framework or to respond to demands for new products and solutions. One of the biggest challenges that the European industry faced in recent years was the implementation of Solvency II, the … [Read more...] about The Legacy Market: Innovation. Flexibility. Creativity. Capital Appeal. That Order.
Legacy Attracts New Investors: Hadley Explains How “Runoff” Equals “Payoff” for Investors
The legacy sector offers expanding investment opportunities as more companies prepare to sell off non-core or non-performing portfolios while investors look for new outlets. Barbara Hadley reports. This could well herald a boom time for the legacy market; an increase in sellers, favourable regulatory climate and capital looking for somewhere to go. According to a Swiss Re … [Read more...] about Legacy Attracts New Investors: Hadley Explains How “Runoff” Equals “Payoff” for Investors
Blending Free Market Economy with a Sense of Reality: The Federal Insurance Office
Update Since the time when I penned this article that appeared in the Spring 2011 issue of AIRROC Matters, a lot has changed. At the end of 2014, the U.S. still topped the world market with a GDP of $17.3 Trillion, up $4.4 Trillion from year end 2009. China was second, with a GDP of $10.4 Trillion. The Federal Insurance Office published its Annual Report for the U.S. … [Read more...] about Blending Free Market Economy with a Sense of Reality: The Federal Insurance Office
Let’s Make a Deal: Current Trends in Buying and Selling Runoff Business and Blocks
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
