PRO Insurance Solutions
Thinking delivered
Run-off
There are a number of options available to businesses managing discontinued liabilities – which one is right will depend on the nature of the discontinued business as well as the constraints and objectives of the capital providers.
Underwriting Support
To manage today’s large-scale and hugely complex portfolios, professional support is critical. Increasingly, businesses are looking outside their organisation and teaming up with PRO’s independent experts. The result is a seamless administrative solution every time.
PRO provide underwriting support for Faraday
This case study outlines Faraday,s requirments, the PRO solution and Faraday's thoughts on the performance.
PDF File. 0.10 MB
01.12.06
PRO meet Faraday's requirements for consistent quality and responsiveness of risk capture, irrespecitve of workload peaks.
Download: Finality Solutions and Outsourcing Options
PRO offers a range of solutions designed to allow clients to progress, finalise or refocus their business. Our service takes many forms but the emphasis is always on problem-solving and delivering results.
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Traditional run-off
Our team is equipped to add value at all stages of the run-off cycle, from developing strategies for entering run-off through to exit strategies for finality and closure. Based upon the agreed run-off strategy, we provide a dedicated team to manage the process from start to finish. As part of that service we can also tackle the difficulties associated with managing a run-off in-house, such as lack of staff motivation and retention. The management reporting developed by PRO allows clients to control their business without a significant strain on management time.
Traditional run-off strategies allow clients to:
- Ensure liabilities are contained and reduced wherever possible by proactive claims management
- Maximise assets via reinsurance recovery
- Control ongoing operational costs
- Manage cash requirements
- Enhance their reputation
- Provide exit solutions if required.
Accelerated run-off
Our team is equipped to add value at all stages Increasingly, clients require a strategy which involves more than the ongoing management of discontinued liabilities – one which delivers improved balance sheet management and the potential release of capital.
For these clients, an accelerated management of the run-off is the answer. Achieved through commutations, it enables them to reduce insurance liabilities and realise reinsurance assets. It also minimises risk, reducing the portfolio to a more manageable level and creating the opportunity for final closure.
The strategy is particularly relevant in circumstances such as:
- Reducing liabilities and realising reinsurance assets on large complex books to facilitate closure
- Maximising reinsurance assets on highly geared books by commuting reinsurance in advance of closure
- Reducing liabilities on a step by step basis for volatile portfolios where liabilities or data is unknown.
As well as allowing the potential release of reserves, an accelerated strategy also delivers a saving in management expenses.
We provide a wealth of experience in developing commutation strategies complemented by skilled commutation resource.