Pro set to test new Rhode Island run-off rules

Industry outsourcer and consultancy Pro Global Insurance
Solutions is set to be the first to test a new Rhode Island
regulation that creates a US equivalent to the UK's Part VII
transfer mechanism.
The new rules, which were introduced by the state's
legislature last year, permit (re)insurers to transfer their legacy
liabilities into a newly formed cell company to be run-off as a
separately capitalised vehicle.
Similar to the UK's long-standing Part VII mechanism,
"insurance business transfers" a