Legacy
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Inside P&C’s morning summary of the key stories to get you up to speed fast. -
The sector saw a variety of deal sizes, with transaction values ranging in H1 from $10mn to $3.1bn.
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The outgoing exec will remain as a board member, while chief strategy officer David Ni will lead the company’s M&A strategy going forward.
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The redomicile is part of a diversification strategy to broaden the carrier’s focus from Continental Europe to Lloyd’s and North America.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The existing $770mn adverse development cover between the two parties has been absorbed as part of the deal.
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The legacy specialist has faced a downturn in profits following a bumper run of results through 2020 and 2021.
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As part of the recent LPT deal, the Cinven-backed legacy firm also acquired the team from SiriusPoint’s run-off division as part of its push into the US.
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Inside P&C’s news team runs you through the key developments from the last week.
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The deal is the largest in Enstar’s history and sets Aspen up either for a sale to a strategic buyer or a return to the public markets.
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In addition, Fortitude Re’s subsidiary Fortitude Reinsurance Company has obtained approval to operate as a reciprocal jurisdiction reinsurer in the US.
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The legacy acquirer announced last week the purchase of a Texas entity to use as its US-based carrier for legacy deals.
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James River reserves now ‘walled off’ from past business: CEO
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James River enters $75mn legacy deal, closes strategic review
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Legacy deal activity rebounds over Q3: PwC
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