Karl Wall Named as AIRROC Person of the Year 

October 15, 2013, New York      

AIRROC announced the recipient of the 2013 run-off person of the year award
at the closing event of the 9th Annual NJ Rendez-Vous last week in East Rutherford, New Jersey.   

Karl J. Wall, 
Non-Executive Chairman, Enstar Holdings US is the recipient of the 2013 award.  As members know, this award is presented each year to recognize those individuals who have had significant impact on the run-off industry.  He epitomizes the professionalism of the industry by his extensive career in the acquisition of and effective management of run-off books.

Karl began his career in run-off in 1981 working for a division of Providence Capital Group on the Slater-Walker run-off in London.  He credits Shaker Youssef, a good friend and mentor, and an early pioneer in run-off management, with introducing him to this segment of the business.  In his acceptance speech on the Hornblower Hybrid yacht, the site of the Rendez-Vous Reception and Dinner Cruise, Karl pointed out that he had never met anyone who started out wanting a career in run-off, but looking back over three decades, he described how run-off managers have had challenges to meet and financial problems to solve that have created a dynamic and sophisticated profession.

His history of innovation includes participation in the management buyout and runoff of American Centennial Insurance Company and Consolidated Insurance Limited (UK) from Beneficial Financial Corporation (DE) in 1987. He also served as Executive Vice President of Facility Insurance Corporation, from August 1997 until December of 2003; that entity was formed as the result of his work with members of Swiss Re in privatizing the Texas State Workers’ Compensation Facility. In 1999 he was part of an investor group that acquired General Accident Company of Puerto Rico. He started International Solutions LLC in 1996 and worked there until 2005 when he joined Enstar US.  Enstar Group's core focus is to acquire and manage insurance and reinsurance companies in run-off and provide management, consulting and other services to the global insurance and reinsurance industry.

In his remarks, Karl speculated about where the source of run-off work will be in the future and the challenge facing the industry in the years to come.  AIRROC congratulates him on having the ingenuity and professional expertise to deal with those opportunities and craft efficient solutions.  The award was sponsored by the firm Butler Rubin Saltarelli and Boyd LLP.

The past recipients of the AIRROC award include: 
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.