Legacy Services
Efficient, Compliant Management of Legacy Books, Through to Finality
Is your legacy book competing with live business for resources?
Legacy books of business demand efficient and compliant management, yet allocating resources can be challenging amidst growing live business. Unsupported systems, loss of account knowledge after acquisitions, unallocated cash and uncollected brokerage all add to the burden.
How Pro Global Helps
Pro offers rich experience in managing legacy books, optimising processes for efficient run-off and offering closure for our broker clients. Whether integrating with your in-house team, delivering an outsourced solution or undertaking a Broker of Record Transfer, we provide tailored, strategic support that can deliver finality while protecting market reputation and the rights of policyholders.
Why choose Pro Global for Legacy Services?
Transferring the continuing administration of legacy and run-off accounts to a recognised market specialist allows in-house teams to focus on live business, protects market reputation, enhances value and offers accelerated finality while protecting policyholders’ rights.
We manage legacy books efficiently and compliantly, having de-scaled over $3bn in liabilities across diverse business classes, with services tailored to the unique demands of each book.
Accurate and compliant reporting, with audit-ready records and clear reconciliations that maintain client trust, while proactively tackling unallocated cash, funding recovery and uncollected brokerage.
We efficiently address outstanding issues and facilitate timely settlements, acting as an extension of your team and navigating unsupported platforms and lost account knowledge.
We facilitate the smooth discontinuation of lines of business, minimising risk and maximising operational efficiency, through strategic support or full broker transfer where we assume ongoing account administration.
A complete legacy book transfer that provides finality and certainty to the original Broker of Record. Transfers typically take place in two stages: an interim period where we support administration in the broker’s name, followed by a formal Broker of Record Transfer. Transfer Agreements maintain existing service standards, there is no change to clients’ Terms of Business for the administration and payment of claims, and no additional cost to clients.
Efficiently manage legacy books of business with Pro, your trusted partner for smooth transitions and financial integrity.
A Simple Proven Review Process
STEP 1:
Review & Strategy
We assess the legacy book, its systems and its outstanding issues, and agree the route to finality: in-house support, outsourcing or a Broker of Record Transfer.
STEP 2:
Transition
Knowledge transfer and TOBA compliance are managed carefully, with an interim period of administration in your name where a transfer is planned.
STEP 3:
Run-off Management
Our dedicated team handles technical accounting, legacy claims, unallocated cash, funding recovery and uncollected brokerage with monitored progress.
STEP 4:
Closure & Finality
Compliant financial reporting through to closure, or a formal Broker of Record Transfer that provides certainty for you and continuity for clients.
Client Success Story
Trusted Partner and Seamless Extension for Brokers
Pro Global has established strong relationships with key stakeholders across a major broking client’s divisions, positioning itself as a natural extension of the broker’s team. Our services have expanded to include processing Proportional Treaty business and third-party binders, previously handled in-house. We handle diverse classes of business, from routine items to complex Energy and Aviation placements, and have recently taken on new brokers within the client’s group.
Benefits of our legacy accounting services
- Efficient run-off and financial closure.
- Enhanced operational efficiency and streamlined operations.
- Navigate complex legacy scenarios with confidence.
- Finality and certainty through Broker of Record Transfer.
- Maximised returns through recovery of unallocated cash, funding and brokerage.
Dani Rosser, Head of Broker Services
FAQs
The efficient, compliant management of legacy and run-off books, from ongoing administration and legacy claims handling through to financial closure or a Broker of Record Transfer.
A complete transfer of the legacy book that provides finality and certainty to the original Broker of Record. It typically takes place in two stages, an interim period of administration in the broker’s name followed by the formal transfer.
No. Transfer Agreements maintain existing service standards, and there is no change to clients’ Terms of Business for the administration and payment of claims, and no additional cost to them.
Yes. We understand the challenges of unsupported platforms and tools incompatible with modern operations, and our services are designed to navigate them cost-effectively and compliantly.
By proactively tackling unallocated cash, funding recovery and uncollected brokerage, and by de-scaling liabilities efficiently: we have de-scaled over $3bn across diverse classes.
