The combined total of estimated gross liabilities transacted in the period was $760m, with a range of business types and transaction structures contributing to deal flow. Six deals took place in North America and Bermuda, two in Continental Europe and two in the UK and Ireland.
Deals in Q4 2023
| Acquirer Group | Seller/cedent | Country | Predominant Territory | Type of Deal | (Re)insurer/Lloyds/ Captive/Corporate | Line of business transacted |
|---|---|---|---|---|---|---|
| Carrick | IRB (Re) | UK | UK & Ireland | LPT | (Re)insurer | Property and casualty reinsurance |
| Compre | Undisclosed | Various | Continental Europe | LPT | (Re)insurer | European casualty and motor liabilities |
| Compre | Undisclosed | Various | Continental Europe | LPT | (Re)insurer | European casualty and motor liabilities |
| DARAG | Undisclosed North American captive insurance company | USA | North America | Share sale | Captive | Workers' Compensation |
| DARAG | Undisclosed Bermudan captive insurance company | Bermuda | North America | Novation | Captive | Workers' Compensation |
| FARA Recovery | Zurn Elkay Water Solutions | USA | North America | Share sale | Corporate | Asbstos liabilities |
| Fleming Intermediate Holdings | James River Group Holdings, Ltd | USA | North America | Share sale | (Re)insurer | Undisclosed |
| RiverStone International | Undisclosed | Bermuda | North America | LPT | (Re)insurer | Undisclosed |
| Swiss Re | Kookmin Best Insurance Company, LTD (US Branch) | USA | North America | LPT | (Re)insurer | US commercial and workers’ compensation |
| Xitus Insurance Holdings Ireland Limited | Undisclosed | Ireland | UK & Ireland | Share sale | Captive | Various property and casualty classes |
How we can support our clients
The non-life insurance run-off deals team has access to more than 200 specialists who can provide expert support throughout the deal lifecycle, including:
- Commercial, financial, regulatory and operational due diligence
- Deal feasibility studies and strategic options analysis
- Transaction structuring advice
- Preparation of marketing materials and running of disposal process
- Bidder identification and deal negotiation support
- Actuarial support including deal pricing, reserving and capital optimisation
- Post-transaction separation and migration advice
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