Run-off – InsuranceAsia News https://insuranceasianews.com/industry_segments/run-off/ Tue, 14 Oct 2025 08:49:34 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.2 MS&AD to put Hawaiian unit DTRIC into run-off https://insuranceasianews.com/msad-to-put-hawaiian-unit-dtric-into-run-off/ Tue, 14 Oct 2025 08:47:32 +0000 https://insuranceasianews.com/?p=201922 It will continue to administer all active policies, manage claims and meet its contractual and statutory obligations over the next several years.

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MS&AD’s Hawaiian subsidiary DTRIC Insurance has announced its intent to transition to a run-off, according to an announcement by Hawaiian Insurance Division.
Following this decision, DTRIC will no...

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]]> Markel to divest US$1.2bn global reinsurance renewal rights to US carrier Nationwide https://insuranceasianews.com/markel-to-divest-us1-2bn-global-reinsurance-renewal-rights-to-us-carrier-nationwide/ Fri, 01 Aug 2025 01:48:40 +0000 https://insuranceasianews.com/?p=196554 Markel's global reinsurance division will enter run-off with a large number of underwriters moving to Ryan Re, which will be delegated by Nationwide to manage all renewal policies.

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Markel Insurance will sell the renewal rights for its global reinsurance business – currently US$1.2 billion in premiums – to US-based Nationwide as part of its broader strategy to simplify operations...

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]]> Lexasure-owned Front Street Re appoints Edison Fong as CEO https://insuranceasianews.com/insurtech-front-street-re-appoints-edison-fong-as-ceo/ Thu, 09 May 2024 08:28:25 +0000 https://insuranceasianews.com/?p=153636 New York-based Fong joins from reinsurer Converge Re, where he was a director focusing on reinsurance in life and annuities markets in the US.

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South-East Asian reinsurance and digital insurance solutions provider Lexasure Financial Group's subsidiary Front Street Re has appointed Edison Fong as its new chief executive officer.
New York-based...

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]]> KB Insurance completes US$100m loss portfolio transfer deal with Swiss Re https://insuranceasianews.com/kb-insurance-completes-us100m-loss-portfolio-transfer-deal-with-swiss-re/ Wed, 15 Nov 2023 03:11:42 +0000 https://insuranceasianews.com/?p=138377 With the Howden Tiger arranged deal, the Korean carrier will transfer its US commercial multiperil and workers’ compensation lines' net loss and unearned premium reserves to the reinsurer as part of the insurer's US branch wind down plan.

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Korean carrier KB Insurance has completed loss portfolio transfer US commercial multiperil and workers’ compensation lines with Swiss Re.
The general insurer will transfer US$100 million net loss rese...

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]]> Catholic Church Insurance in Australia enters run-off https://insuranceasianews.com/catholic-church-insurance-in-australia-enters-run-off/ Tue, 30 May 2023 06:07:26 +0000 https://insuranceasianews.com/?p=126263 CCI has been operating since 1911 and says it "has sufficient assets to meet its commitments as they currently stand" as reports suggest historical abuse claims are the reason for closure.

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The Catholic Church Insurance (CCI) company in Australia has entered into run-off and won't write any new business or renew policies.
The Melbourne-headquartered insurer said in a media statement on M...

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]]> Japanese majors swept up in Lloyd’s legacy zeitgeist https://insuranceasianews.com/opinion-japanese-majors-swept-up-in-lloyds-legacy-zeitgeist/ Mon, 12 Sep 2022 22:05:04 +0000 https://insuranceasianews.com/?p=107791 RiverStone’s run-off acquisition of Sompo's Endurance at Lloyd’s marks the end of an era.

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Not so long ago, the arcane world of the Lloyd’s run-off business was considered an esoteric corner of the legacy market, and best left to the few specialists who really knew what they were doing and ...

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]]> Sompo International sells Endurance at Lloyd’s to RiverStone https://insuranceasianews.com/sompo-international-to-sell-endurance-at-lloyds-run-off-to-riverstone/ Wed, 31 Aug 2022 02:58:49 +0000 https://insuranceasianews.com/?p=107156 The deal marks Sompo International's withdrawal from Lloyd's and consolidates its UK presence into a single platform.

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Sompo International, the Bermuda-based P&C (re)insurer, has sold its Endurance at Lloyd’s run-off business to legacy reinsurance and run-off specialist RiverStone International for an undisclosed ...

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]]> Increased regulation to drive Asia Pacific run-off activity: PwC https://insuranceasianews.com/increased-regulation-to-drive-asia-pacific-run-off-activity-pwc/ Mon, 22 Feb 2021 08:46:45 +0000 https://insuranceasianews.com/?p=74982 Region holds US$123bn in non-life run-off reserves – compared with US$385bn in the US.

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Though holding US$123 billion in non-life run-off reserves, the Asia-Pacific region continues to see “modest appetite for and uptake of run-off solutions,” according to PwC’s latest ‘Global Insurance ...

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]]> Antares’s China exit signals run-off opportunity https://insuranceasianews.com/antaress-china-exit-signals-run-off-opportunity/ Mon, 08 Feb 2021 23:01:51 +0000 https://insuranceasianews.com/?p=74237 Sale of legacy businesses could take off in post-Covid environment.

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Antares’s decision to exit its Lloyd’s China operation last week is the first notable run-off opportunity in the region since Catalina acquired Asia Capital Re’s legacy business in December 2019, but ...

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]]> RiverStone confirms re transfer from Aioi Nissay Dowa https://insuranceasianews.com/fairfax-backed-riverstone-confirms-reinsurance-transfer-from-aioi-nissay-dowa/ Wed, 26 Feb 2020 22:00:57 +0000 https://insuranceasianews.com/?p=49831 Reinsurance arm from the UK branch of the Japanese firm will go into run-off.

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Runoff player RiverStone, owned by Fairfax Financial Holdings, has taken control of the reinsurance portfolio from the UK branch of Aioi Nissay Dowa Insurance (ADI).
All reinsurance contracts in which...

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