PRO Insurance Solutions

• Capital Solutions

  • Legal Entity Purchase
  • Reinsurance Solutions
  • Part VII Portfolio Transfer
  • Debt Purchase

• Run-off Solutions

  • Run-off Portfolio Management
  • Commutation
  • Solvent Schemes of Arrangement
  • Audit & Inspection
  • Broker Collection Services
  • Claims Management
  • Strategic Planning
  • (Re)insurance Asset Recovery
  • Consultancy & Business Support

• Live Business Solutions

  • Underwriting Support
  • (Re)insurance Asset Recovery
  • Audit & Inspection
  • Commutation
  • Consultancy & Business Support
  • Claims Management

Run-off Portfolio Management

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.

Our clients choose PRO because we’re able to professionally manage their liabilities and assets while also protecting corporate reputations and confidentiality. They are also aware of our track record in delivering innovation, and the fact that many of the solutions we have pioneered are now recognised as best practice throughout the industry. Using these solutions relieves them of the day-to-day management of liabilities as well as other operational issues such as staffing, premises and IT.

Whatever the type or scale of project, we put together a dedicated team which brings a profound knowledge of the intricacies of the insurance and reinsurance market and ensures a smooth transition.

There is an ever-increasing recognition of run-off as an industry and of the balance sheet benefits of effective run-off management. Managing discontinued liabilities demands entirely different skills to managing an ongoing portfolio, so it pays to seek advice from the specialists.

Our focus is firmly on managing discontinued liabilities to extract maximum value from the balance sheet in a manner that protects the reputation of our clients. We understand the key business drivers and can provide innovative answers. Using our professional services enables insurers and reinsurers to overcome the associated costs and restraints of run-offs and provides the opportunity to refocus their business.

Every portfolio has idiosyncrasies and every client has different objectives. Our team has the experience and skilled resource to adapt to meet those objectives. We always begin with in-depth initial consultation. Once we have a clear picture of our client’s issues and long term requirements, we are then able to focus our advice and recommend a tailored solution.

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.

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.