Operating Subsidiaries
Pro Insurance Solutions Limited, Pro IS, Inc.
Pro is our insurance services company, the acquisition of Pro was completed in November 2009.
Pro is a leading provider of outsourcing and consultancy services to the global insurance market, serving insurers, reinsurers, brokers, lawyers and corporate investors. The team of 300 professionals work in partnership with our clients to provide innovative, quality services, products and solutions to meet their goals.
Founded in 1993, Pro is headquartered in London with offices in New York and Stamford in the US and Gloucester in the UK. Pro also has a partner network throughout the US and Europe.
To find out about our people please use the link below.
www.proisinsurance.com/about-pro/leadership/
STRIPE Global Services
STRIPE Global Services (SGS) developed the STRIPE® System to tackle the complex recovery issues facing today's insurers, brokers and reinsurers. With many years' experience in the industry and the backing of a leading player in reinsurance, our team brought a unique perspective to the challenges of recovery and how to solve them. The result is an innovative system that is proven to make the process fast, secure and simple. The STRIPE® System was launched in September 2010.
CX Reinsurance Company Limited
(partly owned)
On 31 October 2002, Tawa acquired CX RE, formerly called CNA Reinsurance Company Limited, from Continental Casualty Company. From 1977 CX RE underwrote a complex portfolio of US and international insurance risks but ceased underwriting in August 2001. When purchased, CX RE was the largest solvent company run-off in the London market. Since 2002, we have reduced the gross undiscounted liabilities of CX RE by over 75%; one of the most rapid reductions ever seen in the London market. On 21 March 2006, we sold most of our shares in CX RE, retaining 12.65% of the non-voting shares and 49.95% of the voting shares.
KX Reinsurance Company Limited
On 4 May 2007, Tawa completed the acquisition of KX RE, formerly called Continental Management Services Limited. KX RE is a mature run-off with a wide variety of exposure, predominantly in US dollars. The majority of risks relate to 1985 and before.
PXRE Reinsurance Company
On 31 March 2008, Tawa completed the acquisition of PXRE, a Connecticut-domiciled reinsurance company that entered run-off in 2006.
Please note that Tawa has not acquired PXRE Reinsurance Ltd or PXRE Reinsurance (Barbados) Limited, companies domiciled, respectively, in Bermuda and Barbados and that remain part of the Argo Group.
OX Reinsurance Company Limited
In March 2011, Tawa plc completed its acquisition of 100% of the issued shares of Oslo Reinsurance Company (UK) Limited and the company was renamed OX Reinsurance Company Limited.
QX Reinsurance Company Limited
On 31 March 2011, Tawa plc set up QX Re, a Bermudian regulated special purpose insurer which will initially provide reinsurance coverage for a book of lead paint exposure that was underwritten by Pennsylvania National Mutual Casualty Insurance Company.
The company will operate as a reinsurance vehicle and is an innovative way for Tawa to assume discontinued portfolios when a company transfer is not a viable option.
Island Capital Ltd
On 25th October 2010, Tawa completed the acquisition of 94.3% of the issued shares of Island Capital Ltd and its wholly-owned UK subsidiary, Island Capital (Europe) Ltd. Island Capital is a Bermuda insurance company with a specialist underwriting portfolio of trade credit and political risk insurance business. The company went into run-off in November 2008 following the sale of its trade credit and political risk insurance underwriting platform.
Lincoln General (LGIC Holdings, LLC)
On 17th October 2011, Tawa completed its acquisition of 51% of the issued shares of the Delaware, US holding company, LGIC Holdings, LLC. LGIC Holdings wholly owns Lincoln General Insurance Company, a Pennsylvania insurance company. Lincoln General provided property and casualty insurance products to the transportation industry since 1977. Lincoln's business plan is the orderly, cost-effective and professional resolution and payment of all of Lincoln's policyholder claims, as well as all its other obligations.