International non-life legacy business to provide reinsurance and run-off management solutions. Capital support to be provided by Sequentis Financial LLC

October 18, 2019 – Run-off industry veteran Karl Wall today announced plans to launch The Carrick Group (“Carrick”), an international non-life legacy business providing reinsurance and run-off management solutions. The Carrick Group initially will be based in the US, UK and Bermuda. Carrick will be led by Mr. Wall as Chief Executive Officer and an experienced senior management team, whose members collectively have completed more than 50 run-off transactions with liabilities in excess of $10 billion.  

Capital support for Carrick will be provided by Sequentis Financial LLC (“Sequentis”), a financial service holding company, whose businesses include other insurance operating companies and a multi-billion dollar investment management firm. 

“Our talented team, with the support of Sequentis, is well positioned to capitalize on current market opportunities in North America, the UK and Europe,” Mr. Wall said. “Carrick will use its proven industry expertise to acquire long tailed, non-life, run-off loss portfolios through reinsurance transactions and insurance company acquisitions, as well as providing legacy consultancy and management services.” 

Mr. Wall is a successful and highly regarded run-off industry veteran with more than 30 years of experience in the sector. He served for eight years as the President and CEO of Enstar (US) Inc., where he was responsible for building and managing Enstar Group Limited’s successful North American run-off business.

Stuart Zimmer, Chairman of Sequentis, said: “Karl and his team have a stellar reputation and a proven track record in the non-life legacy space. We look forward to supporting Carrick’s growth into a leading player in the run-off marketplace.” 

Mr. Wall added: “The combination of a strong capital base and seasoned leadership team make Sequentis an ideal partner for The Carrick Group. We look forward to their support as we grow the Carrick legacy platform.”