Non-life insurance run-off deals - Q3 2026 review

The increase in activity reflects the strong pipeline reported by market participants in recent months, with a number of transactions that had previously been progressing through the market being announced during Q3.

Q3 alone accounts for 75% of the liabilities disclosed this calendar year, driven principally by RiverStone International’s $1.6bn loss portfolio transfer (LPT) with QBE Insurance Group, the largest legacy transaction announced in 2026 to date and the second LPT between the two parties.

YTD 2026 deals activity by region:

_{* The cumulative estimated gross liabilities transacted figure for Q3 2026 does not include c.$4.8bn of gross technical provisions per AF Group's most recent public filings, that are expected to be transferred to Enstar upon closing of Enstar's acquisition of AF Group.}

You can read and download the Q3 2026 report below.