PORC Recapture Services
2009-Aug-01 - Christopher H. Hause
With the recent restructure plans of two of the "Big Three", US automakers have downsized or eliminated many dealerships. For those dealerships that own reinsurance companies and are going out of business, it may become less relevant to maintain their Producer Owned Reinsurance Companies (PORC). The recapture by the Direct Writer/Ceding Company may be the logical course of action for both the individual PORC and the Ceding Company.
For a dealership who survives that owns a reinsurance company, there may be an interest in generating capital to continue operations by requesting that the Ceding Company recapture the business reinsured into its PORC. The Ceding Company may find this recapture attractive, if adequate margin can be built into the settlement.
Hause Actuarial Solutions, a leader in providing independent actuarial consulting services to the credit insurance industry, has developed a time-efficient, cost-effective method to derive the value or net worth of the Single Premium Credit Life and A&H/DI business reinsured to a PORC seeking recapture by the Ceding Company.
This service could be for either:
The Direct Writing Insurance Company - Determining the recapture value of the reinsured business in response to a request by the PORC.
The PORC - Determining the recapture value of the reinsured business so that the PORC can make an informed decision on whether to pursue a recapture.
For a quote to provide this service including turnaround time and low flat fee cost, please contact Sean Dermody via email at Sean DermodyMAIL!#, or by phone at (913) 685-2200.