ACQUIRED SOLUTIONS
New to our life reinsurance product offering in 2003 is Acquired Solutions, our administrative reinsurance program. Under administrative reinsurance, the client is provided with an exit strategy for a block of business that no longer fits with the client’s current business strategy. In addition to capital relief, an administrative reinsurance solution allows the ceding company to outsource the day-to-day policy administration tasks related to that block of business.
Administrative reinsurance transactions are not new to us. Since 1999, we have completed several administrative reinsurance transactions as part of our Financial Solutions efforts. However, with the launch of our Acquired Solutions business, we take the expertise gathered over the past four years and institutionalize these transactions as a distinct product line. In order to provide high quality administrative services, we have established relationships with experienced third party administrators to manage the blocks of business.
With an ever-changing life reinsurance industry, providing clients with administrative reinsurance solutions is a natural extension of Scottish Re’s existing life reinsurance product offerings.
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