PARIS, JUNE 28, 2018
Last Wednesday, June 20, Sylvain Villeroy de Galhau, CEO, and Pascal Salelles, Business Development Manager, attended the first ever French Run-off Forum that took place in Paris. Organised by Martin Kanwar from Refocus LLC (a consulting firm advising reinsurers on regulatory authorization processes), the event gathered about 50 invitees eager to learn more about runoff opportunities and processes in place on the French market. AXA Liabilities Managers co-sponsored the event, in association with Compre, Clyde&Co and Crawford.
Sylvain opened the event giving an overview of the current trends in the Property & Casualty Legacy business. Joseph Pallaro, Managing Director at Compre Services (Switzerland) Ltd and Yannis Samothrakis, Partner at Clyde&Co, tackled the details of direct business portfolio transfers in run-off. After lunch, Paul M. Ogni, Country Manager Italy at Crawford, switched languages and topics to discuss the claims process in run-off, and how to create value while treating policyholders fairly. The event closed with an opportunity for participants to interact with speakers or continue the conversation in a more informal way.
While the primary purpose of this event was to take stock of the current run-off industry in France, it clearly confirmed a growing interest of numerous stakeholders – be they major players, regulatory bodies, re/insurers, run-off carriers, investors or third party service providers. If this were to continue, we could see more events of this type bringing together the main players in the field.