Market News > Winners of the 2007 ARC Run-off Awards Announced
On 25th October the Association of Run-off Companies (ARC) announced the winners of the Annual ARC Awards for excellence in the field of insurance and reinsurance legacy management. The Awards were presented by ARC Chairman, Philip Grant, at the Annual Members’ Dinner.
Philip Grant, Chairman of ARC, commented: “An opportunity to showcase performance and innovation within the legacy management sector, the awards aim to recognise and celebrate not just the individual achievements of companies and individuals in the market, but also the professionalism and dynamism of the market itself.”
The winners of the 2007 ARC Awards were:
• Industry Initiative of the Year - Standard & Poor’s for its Policyholder Recovery Ratings, potentially a key to a whole new toolbox for the industry. Capita CMGL was highly commended in this category for its RITC vehicle, Syndicate 5500.
• Run-off Company of the Year was awarded to Royal & Sun Alliance, unanimously agreed by the judges to have made a significant contribution to the development and current health of the legacy sector in London. Tawa plc was highly commended for its innovative approach to capital raising, being the first non-life run-off consolidator to seek a UK stock market listing.
• Run-Off Management Services Provider of the Year was Randall & Quilter/Cavell, selected for bringing imagination and flair to its service offering whilst adhering to high standards of professionalism, so contributing to growth in size and stature of the market.
• Run-off Service Provider of the Year went to law firm, Lovells, for outstanding service to clients that combined high standards of professionalism with genuinely global capability. Clyde & Co was highly commended, recognising its greatly expanded offering and full range of advisory services
• The 2007 Award for Services to Run-off went to Philip Singer of Tawa Management in recognition of his distinguished thirty year career in the sector and his enormous positive influence on the development of the run-off industry in London.
Philip Grant added: “Services to Run-off is a very special Award. As its name suggests, it is designed to recognise exceptional service by an individual to the run-off sector over a number of years. More than just long service, the winner will have contributed significantly to the development and enhancement of the sector and will be recognised by all practitioners as being highly influential.
Over more than thirty years, Philip has innovated, has championed the sector and has been an active and well-respected practitioner, both as an adviser and, latterly, as a senior executive. Many of the tools and processes we now take for granted he devised and brought to market.”
For further information
Haggie Financial
Fiona Gibson
Zoë Pocock 020 7417 8989
fiona.gibson@haggie.co.uk
zoe.pocock@haggie.co.uk
