PRO Insurance Solutions

PRO secures new run-off contract

PRO Insurance Solutions is pleased to announce that it has been appointed by Tokio Marine Europe Insurance Limited (TMEI) to manage its assumed reinsurance business handled by its Reinsurance Department during underwriting years 1983 through to 2004.

TMEI is an existing PRO client through its participation on the Willis Faber (Underwriting Management) Limited Pools. PRO is pleased to extend this working relationship further with the addition of this new business. The transfer became effective from July 2005.

Mr Takashi Oka, Director and General Manager of TMEI’s Reinsurance Department, said: “We are confident that PRO will continue to manage this portfolio in a professional manner and thereby maintain the excellent reputation of TMEI within the London Market.”

Commenting on the new contract Lee Brandon, CEO of PRO said: “PRO is very proud of its close relationship with a number of Japanese insurers and are very pleased that TMEI have assigned the management of this account to PRO. It builds upon our strong existing relationship with TMEI and demonstrates their confidence in PRO to deliver solutions in the management of discontinued London Market businesses. This is the fourth run-off client PRO has acquired this year and reflects PRO’s continuing success”.