Global consulting firm to the insurance and reinsurance industry Chiltington International has announced the creation of a new strategic consultancy unit to assist risk carriers and brokers in developing appropriate solutions to deal with legacy and discontinued business issues.

Under the move, David McGuigan, who is one of the founders of industry trade body the Association of Run-Off Companies (ARC), is joining the group as head of run-off and discontinued business strategy.

Currently a consultant, McGuigan was previously managing director of Aurora, the company created by PwC to manage the runoff of the Independent Insurance Company.

Chiltington claims the strategic consultancy unit represents a major step in the development of its run-off and discontinued business operations which already include run-off management, schemes of arrangement and other reinsurance exit solutions as well as associated activities such as commutations and collections.