Capita is highly experienced in working on finality solutions. Often it makes sense for you to consider what these options are before committing to a long-term run-off plan. We work closely with capital providers and can give you advice on what your best options might be and when it might be best to put these into effect.
We have access to partner capital providers to work with you in this process.
Lloyd’s
We have effected a number of Syndicates’ reinsurance to close transactions using our own internal managing agency and both partner and third party capital providers.
Companies
Options you might wish to consider here are:
- Sale – entire company or a lower group member. For example, if you are still writing business you might wish to ring-fence old liabilities and transfer these off your balance sheet
- Solvent scheme of arrangement – taking you through the entire scheme process, giving you the option to remain in control of your road to finality through orderly closure and retaining assets
- Part VII transfer – transferring the liabilities of either entire portfolios or discrete areas onto the balance sheet of another entity. This could be internally, in order to gain administration efficiencies, or externally to gain total closure
We are also operating in the European finality market. ‘Solvency 2’ means significant changes in this business sector and we are ideally placed to work with you on your business options.
For further details please email David Bull or telephone 0845 026 2556 .