PRO Insurance Solutions

PRO retained by the FAREX GIE Pool

PRO has been retained by the liquidator of the Farex GIE Pool, Mr Claude Le Bozec, to proactively manage the Pool's liabilities with a view to closing down the portfolio.

The Paris based Pool, whose full name is Groupement de Sociétés d'Assurances pour les Risques Extérieurs, wrote direct and facultative excess of loss reinsurance business until 1993, mainly through London market brokers. Pool members are Generali (Concorde), AXA Assurance IARD S.A., AXA Global Risks (Uni Europe), Mutuelle du Mans, France / Generali, Allianz (A.G.F) and A.G.F.M.A.T. ( C.A.M.A.T).

The claims handling will be carried out by PRO's London office. All other functions will be administered from PRO's Gloucester office.

Philip Heitlinger, Executive Director of PRO said, " We are pleased that the Farex Pool has entrusted PRO to carry-out the management of their portfolio. This is another demonstration of PRO's abilities to offer tailored assistance and support to clients within the European market."