run-off

The insurance and reinsurance run-off, or legacy transactions market has continued its growth path so far in 2016, a trend that is expected to continue. And as buyers look to access new capital providers it’s expected that pension funds and ILS vehicles will play an increasing role in the market, according to PwC.

The property & casualty run-off focused insurance-linked investment fund operated by the Credit Suisse  insurance-linked strategies team and sub-advisor ILS Investment Management (ILSIM), has completed the acquisition of Rampart Insurance Company from Groupama SA.

Allianz Re, the reinsurance unit of global insurance firm Allianz, has taken a big step towards its goal of establishing its own run-off operations by entering into a $1.1 billion legacy reinsurance deal with specialist Enstar.

There is an expectation that alternative or third-party capital and ILS investors will increase their appetite for participating in insurance and reinsurance run-off or legacy transactions, according to Arndt Gossmann, CEO of run-off specialist DARAG.

Capital markets and ILS investors will increasingly look to partner with run-off managers, in order to access the returns of non-life run-off insurance or reinsurance portfolios, according to consultancy firm PwC.

The Credit Suisse Asset Management (CSAM) insurance-linked strategies team and sub-advisor ILS Investment Management (ILSIM) have successfully raised $576m and closed the first ILS fund focused on property & casualty run-off portfolios.