Welcome to Rosemont Re
IMPORTANT ANNOUNCEMENT – 16 OCTOBER 2006
1. Appointment of Service Provider
PRO Insurance Solutions Limited (“PRO”) has been appointed as run-off manager for Rosemont Reinsurance Ltd (formerly known as GoshawK Reinsurance Limited) (“Rosemont Re”), effective 16 October 2006.
PRO will administer all aspects of the run off from its London and Gloucester offices. Rosemont Re will continue to maintain a small presence in Bermuda to provide oversight of the run off and to satisfy Bermuda regulatory requirements. As such, PRO will report to Rosemont Re’s President, Mark Bridges, in Bermuda.
a. Claims Adjusting
From 16 October 2006, the claims adjusting function will be administered from PRO’s London offices situated at:
One Great Tower Street
London
EC3R 5AA
England
Telephone number: +44 (0)207 337 8900
Facsimile number: +44 (0)207 623 3318
London and UK based brokers should contact this number for appointments to present claims as postal advices will not be accepted. U.S. and other international brokers should contact Ms Penny Wood Hill on the above number to discuss PRO’s specific documentary requirements.
Any questions regarding the hand over of claims adjusting should be made to Ms Penny Wood Hill on + 44 (0)207 337 8900.
During the transition phase to PRO and in order to cope with the numerous demands from cedants, there will be a minor delay in actual settlement of claims balances until week commencing 6 November 2006.
b. Other Functions
All other functions, including settlement requests/credit control, commutations, reinsurance inquiries and accounting should be addressed to Mrs Andrea Lawrence, the Client Manager supported by Mr Jerry Perrins, Divisional Manager at PRO’s Gloucester offices situated at:
Bruton Court
Bruton Way
Gloucester GL1 1DA
England
Telephone number: + 44 (0)1452 782500
Facsimile number: + 44 (0)1452 782582
Email: andrea_lawrence@pro-ltd.co.uk
2. Rosemont Re
a. Background
Rosemont Re began trading in 2001 as GoshawK Reinsurance Limited. Rosemont Re wrote primarily property and marine business on an excess of loss basis, although it also assumed significant volumes of casualty business by way of quota share agreements with both Lloyd’s Syndicates and casualty reinsurers.
Rosemont Re was placed in to run-off in October 2005 following a significant decline in its capital base as a result of substantial catastrophe losses from both the 2004 year and, in particular, from hurricanes Katrina, Rita and Wilma in 2005.
b. Financial Information
Copies of the Company's Statutory Financial
Statements, as at December 31, 2006 are available
upon request from Richard Keane who can be
contacted at
rkeane@rosemontre.com or on 441-278-0028.
c. Bermuda Contacts
All broker, cedant and reinsurer correspondence and communication after 16 October 2006 should be directed to PRO at the above referenced contact details. Other correspondence or requests for information should continue to be directed to Rosemont Re at its Bermuda offices as follows:
President: Mark Bridges
Chief Financial Officer: Richard Keane
Rosemont Reinsurance Ltd
Emporium Building, 4th Floor
69, Front Street
Hamilton HM 12
Bermuda
Telephone number: + 1 441 292 0021
Facsimile number: + 1 441 292 0053
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