All Run-off articles – Page 3
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Features
Holding back the rates
It became everyone’s favourite buzzword during the record years of 2006 and 2007. Now with falling earnings, increased competition and subprime losses, it’s time to put ERM to the test, argues Ronald Gift Mullins.
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Ernst & Young appoints former Zurich executive
Mick Summersgill joins insurance run-off team as director
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Run-off fight ‘must move to UK’
US insurers plan to appeal following federal judge’s ruling
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State rejects US run-off claims
Case against Randall & Quilter subsidiary was “without merit”
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Swiss Re rating ‘unaffected by write-downs’
S&P cites the reinsurer’s strong capital position despite CDS losses
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Swiss Re Q1 profit down 53%
Company reports additional loss of 819m Swiss francs in structured credit default swaps in run-off
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E&Y launches insurance run-off team
Kevin Gill joins from running his own legacy consultancy to head up the new team
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Folks Re Solutions names a new president
Outgoing president will retain an advisory role
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Analysis
House of Lords overturns HIH rulings
Differences between UK and Australian insolvency laws will affect creditors
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Wasa buys Nordic run-off portfolios
Wasa Run-Off has entered into an agreement to acquire two run-off portfolios from Codan
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Industry Matters
Scheming for success
Employing a scheme manager could result in quicker closure and reduced costs, say David Hunt and Richard Emmett.
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PXRE ratings withdrawn by AM Best
Assessment of run-off company given in light of buy-out by Tawa
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PMA sells run-off operations
Bermuda-based Armour Re will buy the run-off unit for $20m, subject to regulatory approval
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Whittington appoints John Loudon as non-exec chair
Former chairman, Edward de Jager, will remain as an active non executive director
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Berkshire to sell White Mountains stake
WTM will transfer certain runoff units and $751m in cash to Berkshire Hathaway
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Enstar completes AMP run-off buyout
Bermuda-based Enstar bought AMP Limited's Australian-based closed re/insurance operations for $417m
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S&P revises Novae outlook to positive
Rating agency expects to see further legacy resolution through effective run-off of liabilities
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Legacy management considers "non traditional" growth
ARC reports strong 2007 and flags potential developments for 2008