Following a consultation with its members, the Association of Run-Off Companies (ARC) has announced that the organisation has obtained in-principle permission from FSA and Companies House to change its name to Insurance and Reinsurance Legacy Association Ltd (IRLA), subject to a forthcoming EGM.

Mark Everiss, Company Secretary of ARC, explained, “ The reason for this proposed name change is to more accurately reflect the increasing interest from both London and continental market participants who have sizeable books of legacy business but who are not in run-off.

The name IRLA very clearly illustrates what the organisation does and the positive feedback from our consultation showed that the name IRLA especially appealed to the next generation of legacy professionals, who may not be based in the UK but who are dealing with global clients and international legacy issues.

Our members will shortly be invited to attend an EGM, to vote on the proposed change of name to IRLA.”

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