Our client is a large multinational insurance group with complex reinsurance protection for multiple cedants. The basis of cover and reinsurers rotate often creating a multitude of accounting entries. There are numerous outstanding losses from past years, which require regular loss reserve updates to reinsurers. Some parts of the business are placed through brokers and the others direct. The company has got a legacy portfolio that needs to be run-off. Overall reinsurances are administered by internal staff using excel spreadsheets and customised macros. The client aims to reduce administrative burden and improve data quality.
What we do
We assume complete responsibility for the reinsurance administration. Using best of breed technology we create accounting entries, adjust loss reserves and produce analytical and executive reports. Our reinsurance specific administration system gets all this done quicker, easier and cheaper.
- Best of breed technology with no additional IT costs
- Straightforward reinsurance administration and accounting
- Software with a Service