SOBC DARAG
Insurance - West Chester Township, Ohio, United States
SOBC DARAG Employees
SOBC DARAG Details
SOBC specializes in the acquisition of legacy insurance liabilities, whether marginally solvent insurance entities, portfolios of run off business or ‘old year' captive liabilities. These usually have some of the following characteristics: • Difficult, long tail or litigious claims • Slow or non-paying reinsurance protections • Legacy systems or lost/destroyed records • Disinterested or no management team • Shareholders requiring a clean exit SOBC aims to purchase companies in their entirety, without warranties or indemnities on prior liabilities. This allows their owners and management a completely clean break and an exit from the problems that exist. SOBC also specializes in assisting companies with difficult claims, legacy systems or non-paying reinsurance protections. Our focus is usually on small entities throughout North America, Bermuda and the Caribbean and will consider entities in the UK and Europe including Eastern Europe. SOBC has a successful track record of providing exit solutions to US, UK and European entities. SOBC can also provide solutions for portfolios of discontinued or nonstrategic business. SOBC is particularly interested in portfolios that may be considered "too small" for traditional reinsurance providers to deliver a solution. We offer Captive Insurers: • Exit routes for owners looking to close their captive, • Collateral relief for ongoing captives through acquisition of ‘old year' liabilities. SOBC can provide other Consulting Services including: • Insurance management consultancy • Management of run-off contracts • Premium and claim audits The Acquisition Process: • SOBC offers free due diligence on any target insurance company or distressed portfolio. • Indicative pricing is normally be provided within two weeks of the diligence review. • Pricing offers are normally presented without warranties or representations. • Willing to share run-off ‘upside' with seller, where assets are acquired at a steeper discount
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