One key highlight of the AIRROC annual Transactions & Networking Forum is the presentation of the Person of the Year Award. The award gives our band of brethren a chance to acknowledge and celebrate the vision, energy, and leadership of those in our business who play a key role in influencing our work and how the investment community perceives the value of our work. This year’s recipient has not only inspired us with his business creativity and joie de vivre, but he also inspired a movie! Well—a video presentation that affords us an opportunity to focus our collective computer screens on Paul Corver, 2020 Person of the Year, and his accomplishments (not to mention his collection of popular fiction in the background of his home office). His colleagues present a curated collection of accolades and anecdotes to shine a spotlight on Paul, as one of our industry’s creative forces. AIRROC is grateful to the brilliant stars of this presentation: Jenny Fair, Fidelis Consultants Limited, Marcus Doran, Armour Risk Management, Inc., David Alberts, Mayer Brown, and Ken Randall, Executive Chairman, Randall & Quilter. Their thoughtful and engaging stories about Paul’s career dramatized a hero of our business. The video is available on the home page of the AIRROC website: https://airroc.memberclicks.net/.
In the run-up to the movie premier, otherwise known as the nomination process, Paul’s fans described highlights of his career.
– In 1987, Paul took his first position in the insurance market at HS Weavers. In 1990 HS Weavers went under, taking along with it a number of London market companies. And so Paul’s career in run-off began. A true example of when one door closes, another door opens. In 1990, he became Head of Claims for KWELM Scheme of Arrangement (scheme liquidation of 5 London companies which wrote on the Weavers stamp, one of the largest and most successful schemes to date); he then went on to become head of Claims for R&Q and subsequently/currently Group Head of M&A for R&Q. His extended stints with those companies over the past 30 years show both his commitment to the runoff market and his employers’ confidence in him as well as his entrepreneurial approach to legacy market business.
– In 2008, Paul became Chairman of IRLA and continued in this position until 2019. There he demonstrated his belief in the professionalism of the legacy management profession and his wish to “do the right deal” . “Never one to do less than he asks of others he has carved a niche for himself in the legacy market by working hard, turning up when needed, and always being ready to encourage others. Ever the statesman of the legacy sector, both the casualty and captive markets in which he operates have taken on a more professional outlook with Paul’s willingness to explain and encourage…”
As one supporter summed up Paul’s story arc: “His drive and dedication to growing the reputation of the run-off market is unparalleled. It is relatively easy to forget that while the sector is now a very vibrant, global marketplace with high levels of professionalism, sophistication and expertise, that was not the always the case – particularly from the perspective of the rest of the insurance sector. He has been at the forefront of supporting the global run-off community’s commitment to improving its reputation as it moves to becoming an ever more accepted part of the insurance cycle. I think it is fair to say that without his efforts to drive greater collaboration between market participants, the regulators and wider stakeholders, progress towards wider market acceptance would have been much slower. As the US market continues to make progress with respect to its own IBT solutions, the sort of collaboration which drove him will become ever more important to reach the common objective.”
So, if you are in need of some inspiration as you contemplate your role in the legacy business, break out the popcorn and re-watch the AIRROC tribute to Paul Corver, Person of the Year for 2020. We hope the viewing audience will extend enthusiastic congratulations to Paul on the award.