We are legacy experts, offering legal, economic and operational finality.
Through our extensive experience and diverse skills sets, we offer bespoke solutions that enable our clients to reach their own business objectives and to focus on what is core for them. We deliver transaction and execution excellence through our one-team approach.
We have significant experience in multiple classes of direct and reinsurance business, particularly in US asbestos and environmental; other classes include property, liability, marine, medical malpractice, habitation and motor.
We protect clients’ reputation through diligent and proactive claims management; your clients are our clients.
Exiting your legacy business will help your company achieve capital and operational optimisation it will enable you to:
Strengthen solvency and release capital to deploy to core business and exploring new business opportunities
Achieve finality and remove the drag caused by non-core legacy business, including management distraction
Address operational changes such as IT developments or loss of experience, knowledge or people
Address the volatility involved in long tail claims which can be difficult to predict
Offers full legal and economic finality of all insurance liabilities
Local jurisdiction determines mechanism of transfer
Operational finality is achieved once the transfer is complete
Usually takes three-six months; a reinsurance agreement is typically put in place to deliver immediate economic finality
The sale of 100% of the shares in the company in run-off
Structured as a Share Purchase Agreement
Non-insurance due diligence is required
Requires the approval of local regulators
Legal, economic and operational finality on completion of deal usually takes 3 to 6 months in Continental Europe
Loss Portfolio Transfer (LPT)
Provides economic and operational finality (if desired) for the client but no legal finality
Typically achieved by agreeing the terms of a 100% Net Quota Share reinsurance agreement
Effective upon signing
A Reinsurance To Close (RITC) is a reinsurance but provides full finality
Assets | |
(Local/regulatory Capital basis) | 1,800 |
Technical Provisions (incl. ULAE) | |
Local basis | 1,100 |
Regulatory Capital basis (discounted) | 1,000 |
Risk Margin (20% of TPs) | 200 |
SCR (40% of TPs) | 400 |
Liabilities | |
(Local/regulatory Capital basis) | 1,800 |
Technical Provisions (incl. ULAE) | |
Local basis | 1,100 |
Regulatory Capital basis (discounted) | 1,000 |
Risk Margin (20% of TPs) | 200 |
SCR (40% of TPs) | 400 |
We have a unique ethos and approach to the way in which we engage in our market, our clients and delivery of our solutions. Our goal is to exceed clients’ expectations and to deliver that through a collaborative and transparent transaction experience. Every time.
Our emphasis on mid-market transactions ensures we provide focus and expertise to deliver a personalised service to the clients who entrust us with their policyholders.
We focus on building long-term partnerships with our clients, building trust both during and after our transactions and consistently exceeding our clients’ expectations.
Our Integrated ‘one-team’ mindset supports the development and delivery of holistic client focused solutions.
Our thorough and collaborative underwriting approach ensures that we deploy the right level of subject-matter expertise to every transaction.
We employ a highly scalable operating model suited to each unique market in which we operate.