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Falconbury Training Partnership Scheme Find out about Falconbury's tailored in-house training options Thorogood Banner

Current Issues in Insurance Exit Strategies

A practical one-day seminar addressing the key challenges facing exit strategies including run-off and other schemes.

Sample Programme

Introduction: Overview of current legal issues in exit strategies and run-off

  • Growth in cases
  • Recent cases relating to run-offs, particularly solvent schemes of arrangement
  • The impact of the Accenture VAT case and possible action by the European Commission
  • Proposed amendments to UK legislation affecting run-offs, particularly to the Financial Services and Amendments Act 2000

Strategies for effective exits in the USA and Continental Europe
An examination of some of the latest issues in exit strategies in Europe and the USA

Part 1: The USA

  • US run-off options – more about insolvency
  • Schemes v bankruptcy
  • What to watch
  • Commutations/Claims valuations

Part 2: Continental Europe

  • Historical relationships
  • Gates to the world
  • Continental Europe – the spectrum and leading markets
  • UK options v continental options
  • Run-off on the Continent

Part VII Transfers around the World

  • What are they?
  • Why undertake a portfolio transfer?
  • Portfolio transfers in different regions
  • What is the impact of borders?
  • Recent developments

The impact of the EU Reinsurance Directive and Solvency II on exits

  • Implementation – latest news
  • Business transfers after the Directive
  • Part VI transfers v the Directive implementation
  • Update on Solvency II

Using securitisation in the run-off and exit market

  • How it works in practice
  • Run-off – types of structures used
  • How capital funding securitisation works

Schemes of Arrangement

  • Effect of the BAIC judgment on schemes of arrangement
  • Summary of successful schemes since BAIC
  • Practical implications of the recent cases for scheme promoters
  • Considerations for policy holders and brokers
  • What is the next challenge?

CASE STUDY:
The Equitas Berkshire Hathaway deal

  • How the Berkshire Hathaway deal came about
  • How it is going
  • Will the UK legislation be in place for the ‘transfer’
  • How will things be done if the legislation is not in place according to the proposed timetable

Questions

Close of seminar