HELIX UK LIMITED

Tel: +44 (0)20 7247 8888 | Fax: +44 (0)20 7816 2455 | E-mail: mail@helixuk.com

Reinsurance Recoveries

No company can ignore the importance of reinsurance recoveries as an asset in their balance sheet.  Indeed a large number of companies have significant sensitivities to this particular asset, if not in terms of actual solvency then almost certainly in terms of ratings upon which their trading position is likely to be dependent.

At Helix we ensure that this asset, vital to your financial well being and trading future is kept as clear and well defined as possible and that debts are recovered as soon as they fall due.

Particularly on old years the security which you have used may not be clearly identified (especially if through a broking house), may well be in run-off, a solvent scheme of arrangement (English law type jurisdiction) or even insolvent. Certainly, many of your old year reinsurers are very unlikely to be seeking you out in order to honour their debts.  It is our job to make sure that not only are they aware of the debt but that they have appropriately processed it in a timely manner and are pressed to make the necessary payments.  We ensure that our interests are fully aligned with yours by acting on recovery work on an incentive fee basis (where appropriate).

With large or more recent debts the process is sometimes less stressful and this is an area of activity that many companies choose to retain for themselves. It is the smaller to medium, nuisance value debt that is often not addressed and is an area where Helix has the market knowledge and experience.

If you have a discontinued relationship with a reinsurer for whatever reason then the services of an expert, acting as an “honest intermediary”, may well be appropriate and more productive in addition to taking the weight off credit controllers who may have other,more substantial problems to address.