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IRLA Briefing:
An introduction to legacy to the KKFI
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News
Thu 23 November 2023
IRLA News
IRLA - BMA Consultation
You may be aware that last month the BMA issued a Consultation Paper on proposals for how legacy insurance groups approach accounting and capital treatment for corporate liabilities...
Thu 23 November 2023
IRLA News
A Change in AGM Plans
AGM Online, following train strike confirmation
Fri 10 November 2023
IRLA News
AGM Countdown - Will You Be There?
IRLA AGM Countdown Has Begun. Will You Be There?
Wed 8 November 2023
IRLA News
A Night of Celebration for IRLA
IRLA members from across the UK have gathered to mark 25 years of the organisation
Mon 6 November 2023
IRLA News
IRLA Members Lead Session on Legacy and Live Risk, at AIRMIC
IRLA members Andy Hill and Janic Schilling were panellists at the recent AIRMIC event
Thu 2 November 2023
IRLA News
Preparation Gathering Pace for Celebration Night
Countdown is on as member dinner draws closer.
IRLA - BMA Consultation
Catherine Winch
Thursday 23 November 2023

You may be aware that last month the BMA issued a Consultation Paper on proposals for how legacy insurance groups approach accounting and capital treatment for corporate liabilities.  The market has seen a number of these deals in recent years whereby US corporations restructure in order to ringfence historic liabilities, usually asbestos, into a vehicle that they then sell.  Some legacy insurance groups have been successful in acquiring such companies.  Please click here for the consultation paper. IRLA has been given the opportunity to respond and the deadline has been extended to the end of the month.

If you have any comments please contact myself paul.corver@irla-international.com and/or James.Ferris@bmsgroup.com by the end of this week.  We apologise for the tight timeframe but the BMA issued the paper during the time our new Bermuda group was being finalised.

The response to the consultation is being drafted by our newly formed IRLA Bermuda Committee.  This is made up of IRLA members who have a presence in Bermuda and provides a local forum for professional training, networking, collaboration and regulatory interface in the same way that we have in the UK.   Such members pay an additional modest fee to be able to participate in the Bermuda group.  If you have an interest in participating, please contact Leslie-Ann Giovnilli
 
Your early attention to this matter is appreciated.
 
Kind regards
 
Paul Corver
IRLA  Ambassador