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Client success stories

Bermuda based reinsurer

Inspection and Commutation

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Liability reduction – Inspection and Commutation

Client description Bermuda based reinsurer

 

The Client’s requirements

•Client had suffered disastrous losses that led to the company going into run-off
•Pro were appointed to manage run off and to obtain maximum value for shareholders
•One of the agreed strategies was to engineer advantageous commutations to the client

 

Our solution

•Form a dedicated team of specialists to focus on inspection and audit
•Select the 25 key assumed relationships for audit and subsequent commutation
•Results of inspection and audit programme used as a platform for commutation

 

Services/Value delivered

•Delivered 25 audits and finalised commutations within 12 month period
•All commutations within the client‘s estimated final claims cost
•Generated balance sheet savings in excess of $18m
•Enabled the client to obtain a share premium of 49% when shares acquired by a third party

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