Gossmann & Cie., a liability management company, has received a license from the Maltese regulator (MFSA) to operate its risk carrier, a protected cell company (PCC) based in Malta.
Gossmann & Cie. Insurance PCC Ltd. is authorised under the Insurance Business Act (Cap 403) to carry on business of insurance in Malta.
The risk carrier is fully operational and able to develop bespoke cell-based solutions as well as manage the relevant insurance portfolios transferred to Gossmann & Cie.
The Board of Gossmann & Cie has announced the appointment of Joanna Aquilina as Chief Executive Officer (CEO) of the PCC. Aquilina is a chartered accountant and expert for PCC structures, she has been with the firm since 2019.
According to the company, the digital-powered PCC offers accelerated liability management solutions, and is ready to close first transactions.
Last year, the firm’s founder, Arndt Gossmann alongside his team announced the introduction of ExPRO, a powerful tool designed for capital optimisation that facilitates the release of capital and resources almost immediately, ultimately providing full economic, legal, and operational finality.
According to Gossmann & Cie., first due diligences reveal a reduction in cost of capital in the range of 17 to 49% while removing expired policies lowered the numbers of files by 75%.
“With our risk carrier now licensed and open for business, we are fully operational and ready to close first transactions.
“The timing is perfect as interest in ongoing portfolio refinement combined with disposal of legacy and non-core insurance businesses and portfolios, has risen noticeably among European non-life insurers in the current COVID-19 related conditions, which further strain regulatory capital ratios and accentuate balance sheet volatility,” said Gossmann.
Adding, “We understand the mounting interest of insurers to preserve and bolster capital levels, reduce volatility and safeguard against any additional financial uncertainties to the extent possible. Mitigating exposures and refining portfolios is more important now than it has ever been. Digital analytics and customized cell-based structures can offer greater speed and solution flexibility in times like these.”
