Legacy
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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. -
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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The transaction marks the legacy carrier’s first acquisition in Continental Europe.
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Legacy acquirer Darag has entered into a Stock Purchase Agreement and received the relevant regulatory approval for the purchase of a Texas-based insurer in run-off.
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Brid Reynolds will be responsible for the oversight and development of risk functions globally.
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The deal brings an end to Prudential’s participation in non-core legacy property and casual business.
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James River ceded approximately $345mn of commercial auto liabilities relating to business written for Uber’s ridesharing business.
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The newcomers are finding it more difficult to disrupt the sector than they had expected.
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Wolf will remain with the company to assist Gregory during a transition period lasting until September 30.
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