PRO Insurance Solutions (PRO), a provider of run-off services to the London Market, has secured 3 new contracts.
PRO Insurance Solutions (PRO), a provider of run-off services to the London Market, has secured three new contracts.
The company, a member of the Swiss Re group, has been appointed by the Joint Provisional Liquidators of Black Sea and Baltic General Insurance Company to manage the day-to-day run-off of the business.
PRO will also assume responsibility for the management of the RW Gibbon Underwriting Agency and the Lennox Underwriting Agency portfolios, with effect from 1 January 2002.
Bruno Rappo, the head of run-off for The Baloise Insurance Company, a major participant in both pools, said: "We have a long association with PRO through their management of our involvement in the English & American Underwriting Agency.
"We have always been impressed by their professionalism, their results orientated approach and the quality of service they provide."
The new contracts come just a month after PRO said its run-off operation for Lloyd's business, PRO Syndicate Management Limited, had been awarded Managing Agency status.
PRO handles $3bn (£2.1bn) of liabilities with potential reinsurance assets of $2.5bn (£1.7bn), on behalf of 40 international insurance and reinsurance companies with discontinued portfolios.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
