PURCHASE OF REINSURANCE ASSETS:

Aurum, with the exclusive assistance of US-based reinsurance law firm Bazil McNulty, routinely purchases reinsurance assets in the following categories:

• Claims against insolvencies (for example: companies in Rehabilitation, Liquidation or Schemes of Arrangement)
• Specific lines of businesses that do not fit within a company's current or future strategic plan
• Individual reinsurance assets
• Entire books of business (both inwards and outwards)

THE PROCESS:

Aurum prides itself in client satisfaction and thereby has streamlined the process for a company to sell its receivables quickly and in a cost-effective manner through the following three steps:

1. The seller provides Aurum with a list of receivables to sell and all supporting documentation available. For large books of business, Aurum may conduct a formal due diligence at its own expense and with the least amount of interference and burden to the seller.
2. After review of all available information, Aurum provides the seller with a purchase proposal that will include a draft Assignment and Novation Agreement with terms to be agreed by both parties.
3. After a price is agreed and contract terms in the Assignment and Novation Agreement finalized, both parties sign the Agreement and payment is remitted to the seller within 15 days.

THE OUTCOME:

After the sale of assets to Aurum is complete, the seller is able to receive a variety of advantages that include:

• The seller is relieved of any further liability for the debts sold to Aurum.
• The elimination of any administrative burdens to pursue and monitor your claim moving forward.
• Immediately realize value for your receivables.
• Avoid the negative effect of Schedule F penalties or displeased shareholders for languishing or non performing debt.

These benefits are particularly valuable for sellers in the context of insolvencies that may take decades to pay a dividend, provided of course that any distributions are made.