R&Q Solutions Corporate Accounting/Regulatory Reporting

As a dominant practitioner in the run-off and legacy sector, R&Q Solutions has a wealth of experience in providing exit solutions for insurers, captives or reinsurers, whether in the US, UK or Bermuda. The processes available for an exit solution differ geographically.

The following are key methods that have been utilized by our team:

Sale of Company

Unlock capital tied up in run-off operations, remove an unnecessary management distraction and end financial uncertainty by selling your non-core or legacy book of business.

Run-off Administration Outsourcing

R&Q Solutions has extensive experience in managing both primary and assumed run-off portfolios. We reengineer your processes to produce a more efficient and effective run-off solution. We can handle all aspects of the run-off including but not limited to statutory/GAAP accounting and reporting, claims management, reinsurance collections and commutations and regulatory compliance activities.

Solvent Scheme of Arrangement

A Solvent Scheme of Arrangement is a court-approved agreement between a company and its shareholders or creditors. Rhode Island is the only state where a Scheme is permissible today but the approach has been successfully employed in the UK.

Part VII Transfer

This is a facility under the Financial Services and Markets Act 2000 in the UK which provides for specified books of insurance business to be transferred from one insurer/reinsurer to another insurer/reinsurer.

Reinsurance to Close (RITC) for Lloyd's Syndicates

This is a process analogous to the Part VI transfer process but within the Lloyds Market and is governed by the Lloyds Acts and Bylaws.

Reinsurance

While a reinsurance solution generally does not offer finality in its own right, it does provide a significant level of comfort to a seller and can be extremely useful when used as part of any one of the above finality solutions, particularly where an element of restructuring is required to a company or portfolio prior to its disposal.

Please let us know if you would like further information on any of R&Q Solutions' services or if you would like to discuss your specific reinsurance and/or insurance administration needs with us.