Pro Global wins RI permit for legacy transfer deals

ProTucket Insurance has received a license to provide legacy
transfer services in Rhode Island, giving insurers and reinsurers a
way to cede run-off commercial books with court-sanctioned finality
in the US for the first time.
"It's a process that allows people to cede a book of
business, but has to be led by the receiving company," Artur
Niemczewski, CEO of London-based Pro Global Insurance Solutions,
told The Insurance Insider.
Under the UK's similar Part VII of the Financial Services
and...