One area of insurance law where there is a clear global trend is the field of runoff. No matter what country you consider, there is awareness within the local insurance and legal community of an increasing number of runoff deals that may come to market by the end of 2020.
In 2019 PwC’s Global Insurance Market Run-Off Survey estimated global non-life run-off reserves at circa $790bn, with legacy management expected to become part of the “new normal”. The drivers are different in different regions, but the underlying trend is the same – a new focus on run-off, supplement with a growing awareness that the legislative environment is changing, meaning that deals are demanding and require technical expertise to price and complete successfully.
Click here to read the article in full, which has been authored by Jim Sherwood, Chairman of Global Insurance Law Connect, Alexander Hamels of Lydian, Gillian Davidson and Chris Wood of Sparke Helmore and Chris Fletcher of BLM.