legacy

Guy Carpenter, the global reinsurance broking firm, has announced the hire of Connie Tregidga as a Managing Director in its Global Structured Solutions team, with legacy deals and reinsurance sidecars a focus for her new role.

Rachel Bardon, Chief Underwriting Officer (CUO) at Compre, said its recent participation in George Street Re, QBE Re’s debut casualty sidecar, represents a repeatable and well-diversified book of business, exemplifying the company’s broader strategy as it looks to pursue similar transactions in the future.

The legacy and run-off market is evolving to trade much more like the live market, according to speakers at the Insurance & Reinsurance Legacy Association (IRLA) annual Congress event held in Brighton today, while the opportunity to trade with and support ILS investor exit and liquidity needs is expected to continue, especially in casualty risks.

As legacy and run-off reinsurance specialist, Enstar increasingly provides solutions for the insurance-linked securities (ILS) market, we spoke with Dan Sanford, Managing Director, M&A, at the company’s office in Bermuda, about the role of ILS in the legacy space.

Artex Capital Solutions, the insurance-linked securities market service provider and insurance management specialist has partnered with legacy and run-off reinsurance specialist Enstar to introduce structured exit options embedded within Artex’s ILS vehicles.

Longtail Re, the casualty reinsurance underwriting vehicle operated by asset manager Stone Ridge, has delivered a 20% annualised return-on-equity (ROE) since its inception in 2020, while also building a more than $6 billion asset portfolio, according to CEO Ross Stevens.

Juniper Re, the specialist reinsurance broking arm of The Baldwin Group, has expanded the role of 35-year insurance veteran Mory Katz to Head of Insurance-Linked Securities (ILS) Casualty and Legacy.

Executives from Enstar, one of the largest legacy and run-off reinsurance specialists in the world, told Artemis that they are seeing strong interest for its solutions from the insurance-linked securities (ILS) funds sector, as managers seek mechanisms to provide liquidity to their investors.

Buyers and sellers are energised by the opportunity to unlock long-tail casualty risk through insurance-linked securities (ILS), with this momentum driving a broader transformation in the legacy reinsurance market, shifting it from one-off liability transfers toward long-term, strategic partnerships, according to Howden Re.

As PwC released its sixteenth Global Insurance Run-Off Survey report today, we took a look at what the legacy reinsurance sector is saying about the growing use of alternative capital in the space, as well as how legacy solutions are now serving insurance-linked securities (ILS) funds and investors as well.