Pro.

Client success stories

A major ‘A’ rated Japanese insurer & reinsurer

Audit (US casualty)

Download article

Audit (US casualty)

 

Client description
A major ‘A’ rated Japanese insurer & reinsurer

 

The Client’s requirements
• Required finality with UK and US domiciled cedants – assumed portfolio of US long tail Casualty and APH exposures
• Litigation underway with one cedant which the client wanted to resolve

 

Our solution
• Inspect cedants‘ underwriting & claim records, and also brokers‘ placement files
• Assess the management of, and cessions to, specific treaties
• To provide client with strategy to negotiate values asserted and acheive finality with creditors. Strategic settlements / commutations

 

Services/Value delivered
• Audits confirmed solid evidence of serious documentation and contractual failures
• All audits eventually led to commutations, yielding substantial balance sheet savings
• Commuted US Casualty and APH exposures
• All commutations achieved below client‘s commutation benchmarks – improvement of balance sheet
• We provided sufficient evidence for ongoing arbitration to be ‘dropped‘ by reinsured 

Download article