Insurance insolvency

PricewaterhouseCoopers manages a significant number of schemes of arrangement for companies already in formal insolvency, with liabilities under management in excess of £6.5 billion, representing 20% of the UK non-life market.

With over 100 professionals, we are the UK's largest insolvency practice dedicated to dealing with the problems of troubled insurance companies or other businesses with long-tail liabilities, and operate as part of PwC UK's integrated Insurance team.

We can provide support in a number of areas, including but not limited to:

• advice for directors in situations where solvency may be an issue,
• innovative options for avoiding formal insolvency, and
• acting as insolvency practitioners if insolvency is unavoidable.

We work with stakeholders such as creditors, policyholders, guarantors, regulators and shareholders in insolvency situations to optimise the outcome for all parties involved. We routinely manage run-off managers who assist with day-to-day operations on insolvent estates and our policy is to work towards an timely exit solution using innovative techniques where appropriate.

Our current portfolio of insolvency assignments includes some of the largest and most complex in the market, such as Independent Insurance, Orion Insurance, Chester Street (formerly Iron Trades) and Folksam UK.

Insurance insolvency case updates