New legislation is loosening the tight regulatory knot that’s been wrapped around legacy insurance business in the U.S. Upcoming game-changers include:Key amendments to the Rhode Island Voluntary Restructuring Statute (the ‘Rhode Island Statute’), which, among other amendments (House Bill 8163), would allow (re)insurers to transfer eligible portfolios without requiring … [Read more...] about Legacy Watershed: Capitalizing on the New Legislative Options for Runoff
In a world where “strong and stable” equates to weak and uncertain, the European legacy market remains strong and stable (as defined by the Oxford Dictionary), transparent, and continues to deliver Certainty (the capital C is not a typo!) and a cleaner, leaner and stronger balance sheet to each carrier that engages in the process through the implementation of the most … [Read more...] about The Legacy Market: Strength. Stability. Transparency. Certainty. That Order.
Something new and important is coming to the $200 billion plus run-off market in the U.S. Proposed amendments to Insurance Regulation 68 are pending in the State of Rhode Island (RI) and are expected to be approved later this year. These amendments have the potential to invigorate and transform the market, similar to what has occurred in the UK run-off market over the last … [Read more...] about Insurance Business Transfer: Rhode Island’s Answer to Part VII