Legacy Fund Services | Loss Fund Insurance | Pro Global

Loss Fund Management

Discover how Pro Global can support insurers in unlocking millions in value with more efficient Loss Fund management

Loss Fund Recovery

There is a significant volume of reserves languishing unnecessarily in Loss Funds across the re/insurance market that could be repatriated, but with daily workloads to manage, often overstretched teams do not have the resources to focus on this complex task.

Across the re/insurance market, we estimate over $1 billion in capital is sitting dormant in loss funds, despite all claims being paid in full.

At Pro Global, our specialists can assist you in identifying and recovering these redundant reserves that would otherwise be written off and not deployed on any balance sheet, especially if you do not have the resource available internally. 

Pro's experts can empower insurers to take back control, empowering faster settlement times, fewer banking charges, reduced operational costs, and most importantly, full regulatory transparency and audit capability for Loss Fund managers. 

How we help to achieve best outcomes for your Loss Fund claims

To actively pursue Loss Funds requires time, effort, and resources. It's detailed, forensic work. For some insurers, taking on a project of such scale is a challenge, especially when teams are already stretched with day to day work. Our specialist teams work with your internal stakeholders, Delegated Claims Administrators / Third Party Administrators to identify, reconcile and where possible, repatriate redundant funds.
In our experience the value of repatriated funds often runs into the millions, and undertaking this process has a significant positive upside for re/insurers. With over 12 years of experience in dealing with Loss Funds, we can bring our specialist focus to provide you with ongoing support and monitoring to ensure reserves are managed as efficiently as possible.

$1 billion

of capital sitting unnecessarily in London Market loss funds

$25+ million

reserves released by Pro Global experts across two projects in 2022

12 years

of market experience handling loss funds

$19m

of Loss Funds validated as current and correct across 2022

Why Pro Global has the team you want to work with

Our Loss Fund management experts help clients to identify and recover funds that would otherwise be written off and not deployed on their balance sheets. Our experts can also recognise flaws in any processes that are contributing to dormant Loss Funds – a practice which helps establish new procedures, potentially saving millions while preventing similar situations happening again.

Liaising with the Delegated Claims Administrators (DCA) / Third Party Administrators (TPA)

Identifying and reconciling both live and dead funds

Provision of reports for claims leadership teams

Monitoring with all stakeholders to ensure receipt of funds

Ongoing Loss Fund support

Over the years, our team has seen a variety of different reasons as to why funds have been left unaccounted for. Identifying the whereabouts of Loss Funds therefore requires a degree of investigative work; from extracting data to establish the scope of the Loss Funds involved, to identifying who the DCA / TPA or coverholder is. It is only once values, shares and holders are identified that funds can be repatriated (partially or in full) via the broker.

Senior Technical Consultant Claims (Pro Global)

Case Studies

Managing Loss Funds

A leading global specialty (re)insurer asked for Pro’s support in the reconciliation and repatriation of various 2016 and prior year of account Loss Funds

Loss Fund Repatriation Project

A leading provider of specialty lines insurance and reinsurance globally asked for Pro’s help in the reconciliation and repatriation Loss Funds

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