Anna Petropoulos Named as AIRROC 2014
Person of the Year 

October 20, 2014, New Jersey      

The Association of Insurance and Reinsurance Run-Off Companies (AIRROC) has named Anna Petropoulos, founder and president of Apetrop USA, Inc., as its 2014 Person of the Year.  Anna is the 10th recipient of this annual award.

The award was presented to Petropoulos on October 20 at AIRROC’s 10th annual Commutations and Networking Forum in New Brunswick, NJ.  This award is presented each year to recognize those individuals who have had significant impact on the run-off industry. 

Anna was chosen due to her role in the passage of the Legacy Insurance Management Act (LIMA) in Vermont in 2014.  In presenting the award, Katherine Barker, AIRROC’s co-chair, acknowledged Anna’s persistence and creativity in working with Vermont on this legislation.  “This award was created to recognize an individual each year that has done something notable in the legacy sector of the insurance industry, and there is no doubt that Anna and her work with Vermont exemplifies what the award is about,” said Barker.

In remarks at the presentation, Petropoulos heralded the progressive insurance environment in Vermont, pointing out that long before passing LIMA, the state was known as the pioneer and leader in facilitating the creation of captive insurance companies, with more that 1000 such entities currently registered in the state.

LIMA was signed into law on February 19, 2014 by Governor Peter Shumlin. LIMA continues Vermont’s tradition of innovation and leadership in the insurance and financial sectors: the Act is the first U.S. legislation enabling the transfer of closed blocks of commercial insurance and reinsurance policies. 

Apetrop USA is a Vermont-based company that specializes in consulting and advisory services to insurers, reinsurers and other investors and prospective investors related to the transfer and assumption of closed blocks of insurance and reinsurance business under Vermont’s LIMA.  A native of the United Kingdom, Petropoulos has an extensive background in the successful management of portfolio loss transfers and other types of accelerated closure.   Before moving to the US, in 1999 Anna Petropoulos founded Apetrop Ltd. in London as a service provider to the insurance and reinsurance industry. She has more than 30 years’ experience in the London and international markets working with risk carriers and brokers. Now merged into Aureus Asset Management Ltd., Apetrop Ltd. was at the forefront in the successful management of portfolio loss transfers, discontinued lines and accelerated closure.  Earlier in her career Anna held positions with CNA in London, MFK Underwriting, Willis Faber Ltd, Scottish Lion Insurance Company and Sphere Drake Insurance Ltd.

AIRROC congratulates Anna on having the professional expertise and persistence to look ahead to identify new opportunities and take initiative in finding ways to craft potential solutions for the legacy industry.  Butler Rubin Saltarelli and Boyd LLP sponsored the award.

The past recipients of the AIRROC award include: 
Karl Wall (2013)
Robert Sherwood (2012)
Gary Lee and Andrew Rothseid (2011)
Mindy Kipness (2010)
Barbara Murray (2009)
Dan Schwartzmann (2008)
Brian Snover (2007)
Oliver Horbelt (2006)
Paul Dassenko (2005)

AIRROC’s mission is to promote and represent the common interests of insurance and reinsurance companies with legacy business. The Association’s objectives include improving professional and managerial standards and practices and enhancing knowledge and communications within and outside of the run-off industry.