Run-off: An insight into the biggest ever run-off startup


Run-off: An insight into the biggest ever run-off startup

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At the start of 2017 Premia Holdings, a company dedicated to the run-off market, was founded on Bermuda with $500 million of capital—a deal that represented one of the biggest capital raisings in the sector. In an interview first published in sister publication Bermuda:Re+ILS, CEO Bill O’Farrell explains why he expects fast growth in the run-off sector.

In January 2017, the largest ever startup re/insurer dedicated to run-off was launched on Bermuda with more than $500 million in capital. The launch of the company was taken by many as representing an indication of the growing importance and anticipated growth of the legacy market globally.

Premia Holdings was listed as a class 4 property/casualty reinsurer and will focus on providing run-off solutions. It raised $510 million from founding investors including Kelso & Company, a private equity firm, its co-investors, and an affiliate of re/insurer Arch Capital Group.

Bill O’Farrell, Premia’s CEO, says that the company’s backers felt there would be a growing demand for the services of such a company in what is also a burgeoning market.

Run-off, Premia, Capital, Insurance, Reinsurance, Bermuda, Start-up, Arch, Kelso, Investment, Transactions, Specialist, Traditional, Mergers, Aquisitions

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