Devonshire has specialized, for many years, in auditing ceding companies, monitoring industry and individual company trends and determining favorable commutation environments for its clients. Devonshire has substantial experience, skill and acknowledged results in this specialized area.
In conjunction with an inspection of the company's records, a multi-disciplined commutation team evaluates critical areas such as contract compliance, premium and loss cessions, claims handling and settlement practices and historical handling standards. Following a detailed analysis of loss reserves and future expected development, combined with objective audit findings, a commutation strategy and range of values are developed.
The same skill and techniques are applied to direct insurance in buybacks of policies with open-ended exposures such as asbestos, pollution and others.
Devonshire is best known for its experience and success in this important area of runoff. Its intensive auditing experience and negotiating expertise have yielded hundreds of favorable commutations in the past 18 years.
What Our Clients Say:
"Our book is now 50 percent of the size it was when we turned to Devonshire to develop a commutation strategy."
Controller, U.S. Reinsurance Company
"Our actuarial projections for ultimate losses have decreased every year as a result of commutations accomplished by Devonshire over the past several years."
President, Bermuda Reinsurance Company
"When we saw the effective job Devonshire did in negotiating against us, we decided we needed them on our team."
Executive Vice President, U. S. Reinsurance Company