New Jersey, October 21, 2019
The Association of Insurance and Reinsurance Run-Off Companies (AIRROC) has posthumously named David Scasbrook as the winner of the 2019 Person of the Year award. 2019 marks the 15th year that AIRROC has bestowed this annual award.
The award was announced on October 21 at AIRROC’s 15th Annual Forum in Jersey City, NJ. This award is presented each year to recognize individuals who have had significant impact on the run-off industry.
In presenting the award, Carolyn Fahey, the Executive Director of AIRROC, had the past recipients who were in attendance come forward to make the point that David would never be able to stand among them and be recognized. “David Scasbrook was well respected worldwide for his work and truly left an incredible impact on the insurance sector.” said Fahey. This is the first time that AIRROC has presented the annual award posthumously.
David came to the insurance industry straight from school in his mid-teens, into Lloyds, then into the run-off space at Lloyds (Equitas). He then joined GE which later became part of Swiss Re. When the company created a new business area at Swiss Re a few years later, to focus on their run-off transaction offering, Dave put his hand up to build and lead the team. David spent much of his career in the run-off or legacy part of the insurance industry, nearly 30 years in total. More recently, David worked tirelessly on the Insurance Business Transfer statutes in Rhode Island and to educate the U.S. market and regulators about the benefits of this tool for the insurance markets.
Mark Hallam of Swiss Re and Josh Scasbrook, David’s son, accepted the award on his behalf. Mark outlined that Dave quickly became the driving force at Swiss Re in the run-off and legacy space and was recognized as a thought leader across the industry. Dave lived his short life to the fullest. In his remarks, Mark referred to a quote made famous by Abraham Lincoln, “It’s not the years in your life that count. It’s the life in your years” as a tribute. David Scasbrook leaves a massive legacy in the legacy industry. In remembering his Dad,Josh offered, “We did not really have much of a clue as a family to how well known my dad was in the industry.” He would never act like a “big shot” when he got home – to us, he was “just dad” – which reflects through his humble beginnings leaving school with little qualifications and showing what it is to be a self-made individual.
AIRROC is honored to be able to remember David with this award. A fitting tribute to an industry giant who will be very missed.
The past recipients of the AIRROC award include: Luann Petrellis (2018); Stephen Johnson (2017); William Flaherty (2016); The Reliance Team (2015); Anna Petropolous (2014); Karl Wall (2013); Robert Sherwood (2012); Gary Lee and Andrew Rothseid (2011); Mindy Kipness (2010), Barbara Murray (2009), Dan Schwartzmann (2008), Brian Snover (2007), Oliver Horbelt (2006), Paul Dassenko (2005).
AIRROC’s vision is to be the most valued (re)insurance industry educator and network provider for issue resolution and creation of optimal exit strategies. AIRROC’s mission is to promote and represent the interests of entities with legacy business by improving industry standards and enhancing knowledge and communications within and outside of the (re)insurance industry.