In today's challenging and competitive markets, companies around the globe are burdened with problematic reinsurance assets or looking to exit a particular market or line of business. A number of companies are ceding business to reinsurers that are either recalcitrant or notorious slow-payers in geographically undesirable locations to make a deal cost-effective. However, if reinsurance recovery issues arise it can be cost prohibitive to pursue the claim through litigation or arbitration. These scenarios have become all too common for insurers and reinsurers in both the live and run-off markets.

In response to these market conditions, Aurum offers an alternative that enables its clients to realize value for claims that might otherwise be written off. With numerous deals of all size and complexity completed over the last decade, Aurum has streamlined the process in a quick and efficient way for all parties involved through the assumption of debt via an Assignment and Novation Agreement. This process allows our clients to realize value for otherwise undesirable receivables immediately and all future liability and administrative responsibility shifts entirely to Aurum.

Why Aurum?

There are several reasons that Aurum stands out as the leading choice for reinsurance receivables purchases.

First, Aurum offers 'no nonsense' debt purchase negotiations. Sellers are encouraged to present Aurum with a portfolio of debt for sale with a firm sale price. Aurum will conduct its due diligence promptly and either accept or reject the sale proposal. No negotiation or haggling. All Aurum requires is that the parties enter into a binding Letter of Intent.

Second, due diligence is conducted in a prompt, efficient fashion to minimize the administrative burden on the seller. Aurum's extensive experience with debt purchases enables it to complete due diligence quicker and less intrusively than other debt purchasers.

Third, prompt funding of the purchase price. All purchases are made on a 'non-recourse' basis and paid in no more than thirty days. Aurum self-funds all purchases and therefore, there is no need for contingent purchases.

Finally, all purchases are treated as strictly confidential (unless otherwise agreed by the parties). There is no need for concern that any information about your business activities will be divulged to third parties.