What is run off reinsurance?

Runoff Reinsurers A reinsurer goes into runoff when it stops actively trading and ends its underwriting operations. In other words, a runoff reinsurer stops assuming new risks from its ceding insurers and concentrates instead on minimizing its payouts on its existing reinsurance contracts.

What is a run off business?

An operation which has been determined to be nonstrategic; includes non-renewals of in-force policies and a cessation of writing new business, where allowed by law.

What is run off business in insurance?

Runoff insurance is a provision under insurance policies that include claims that are made on the organisations that are merged with another organisation, acquired, or have stopped their functions. Runoff insurance is also referred to as closeout insurance.

What is a runoff portfolio?

Portfolio runoff is synonymous with a decrease in the amount of assets held. Portfolio runoff can occur when portfolios involve fixed-income payments and products that mature or expire and so cease to exist. Generally, runoff is something a manager seeks to mitigate because it leads to a reduction in assets and return.