Run Off & Legacy Solutions
Citadel Risk offers a range of experienced run-off consultants to work with clients in defining, planning and implementing their run-off management strategy. We provide our clients with a consultative and bespoke management package that deals with clients individual strategic aims, including:
- On-going “orderly” management of run-off portfolios
- Mitigation and portfolio reduction of liabilities
- Design and implementation of a strategic closure strategy
We provide a management process that combines all of the following:
- Claims management
- Reinsurance management
- Debt purchase
- Broker replacement
- Back office administration
Benefits and aspects of run-off & legacy solutions:
- Finality – the need for an absolute final solution to the management, administration, claim, accounting and regulatory issues.
- Reputational – to ensure that the solution continues to uphold the good name and reputation and that the legacy portfolio is managed in a positive and professional manner.
- Regulatory – that the solution complies with all necessary compliance and regulatory requirements and is an acceptable way forward for all involved parties including clients, markets and FCA.
- Cost Effectiveness – the solutions have a reduction in operational costs.
- Capital – the releasing of reserves and maximising capital extraction reduces volatility.
- Operational – the reduction in operational risk through staff retention and redundant IT systems.