Special mention for award for services to run-off winner Philip Singer

The Association of Run-off Companies (ARC) last night announced the winners of the annual ARC awards for excellence in the field of insurance and reinsurance legacy management.

The winners 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 and 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 30 year career in the sector and his enormous positive influence on the development of the run-off industry in London.

The Awards were presented by ARC chairman Philip Grant at the Annual Members’ Dinner.

He said: “An opportunity to showcase performance and innovation with in 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.”

“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.”