Non-life run-off in the the US: Is the US market poised for a transaction surge?

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In early 2018, PwC released the 11th edition of our survey of discontinued non-life insurance business. The firm produced the survey in conjunction with IRLA and AIRROC. Previous editions have focused on European run-off, but this year incorporates a wider look at the global run-off industry, including in the US.

It is clear that the run-off market is buoyant. Survey respondents indicated a range of factors set to influence the sector. Run-off transactions in 2017 followed the upward trend of 2016 deal activity, and early signs indicate that the strong market is poised to continue through 2018. This reflects the increasing recognition by owners of discontinued insurance business of the benefits associated with pro-active management of legacy liabilities and back books. 

The US run-off market is poised at a key juncture in its development. There have been a number of regulatory initiatives that could pave the way for a very significant uptick in run-off activity, but there has not yet been a landmark transaction that may stimulate the activity survey respondents anticipate.

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Luann Petrellis

Managing Director, PwC US

Leslie Fenton

Leslie Fenton

Managing Director, PricewaterhouseCoopers Corporate Finance LLC

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