Source: Survey of Discontinued Insurance Business in Europe – sixth edition, PwC
The Survey looks at the challenges, objectives and strategies of organisations managing run-off business across Europe. Produced in conjunction with the Insurance & Reinsurance Legacy Association, the Survey analyses results from a cross-section of discontinued and live insurers across Europe.
Figure 3: Survey of Discontinued Insurance Business in Europe – sixth edition
Figure 3 shows that the key objective for European insurers with dealing with their run-off liabilities has switched from releasing capital in last years’ edition to early finality in this edition of the Survey. Respondents are considering a wide range of mechanisms to deliver exits for their run-off business with outright disposals and solvent schemes of arrangement being the most commonly considered exits.
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Helping to unlock value in run-off
The Solutions for Discontinued Insurance Business team at PwC has access to more than 200 specialists focusing on providing restructuring and operational consulting services to companies in the insurance and reinsurance industry with run-off business. The team is able to offer advice on a range of issues including bringing finality to run-off and considering options such as sale or transfer of liabilities.