Session Set On Handling Troubled Insurers

An organization whose members manage bankrupt insurance operations said it will hold an October meeting in New York at which industry leaders will discuss approaches to investment, runoff and rehabilitation of troubled carriers.

The International Association of Insurance Receivers (IAIR) announced that the Oct. 24 program will include leaders from the capital markets, major insurers and insurance regulators.

IAIR said the session titled “Emerging Investment Opportunities: Bridging the Gap Between Capital Markets and Troubled Insurers” will be held at the Ritz Carlton at Battery Park.

The opening session is scheduled to feature a conversation involving investment expert J. Christopher Flowers, managing director of J.C. Flowers & Co.; New York Insurance Superintendent Eric Dinallo; and Forrest Krutter, senior vice president, general counsel and secretary of Berkshire Hathaway.

Another panel, “Straight Talk from the Street: Investing in the Troubled Insurer Sector,” will feature Chris McGhee of Guy Carpenter Inc., David Platter of Credit Suisse and Martin Alderson Smith of the Blackstone Group.

State insurance commissioners from Illinois, Delaware, Virginia and the District of Columbia will have a Regulators Roundtable to discuss “Bridges and Barriers to Regulatory, Strategic and Investor Synergies.”

IAIR said “The Track Record: Past Successful and Unsuccessful Approaches” will be discussed by Tim Graham of LaSalle Re, Paul Dassenko of aZure Advisors Inc. and Richard Whatton of Independent Services Group.

According to IAIR, the panel discussions “promise cutting-edge approaches to investment, runoff and rehabilitation of troubled insurers through such techniques as acquisitions, sales of assets or claims, bridge financing, [and] securitization.”

IAIR said enrollment in the program is limited and those seeking more information can contact IAIR Executive Director Paula Keyes at pkeyes@iair.org.