Program of Reinsurance for American Mutuals (PRAM)

In response to requests from American brokers for capacity in the Continental European market to place non-proportional property treaties covering small to medium size regional cedants (mutuals and companies) in the U.S.A., we created P.R.A.M. in 1983.

This facility, which is celebrating its 30^th year of activity. We are responsible for the business production as well as all aspects of the technical and accounting administration, which enables the:

• Producers
  • to have rapid access to a capacity of excellent quality;
  • to earn their full intermediary fees;
  • to have the assurance that claims will be paid without delay.
• Reinsurers who are Members of P.R.A.M.
  • to have access, without incurring the expenses of commercial production, to a large number of American treaties of a regional nature, some of which are not placed on the open market;
  • to enjoy the benefit of a simple administrative and accounting structure, managed entirely by Groupe Walbaum-I.A.R.., with, in addition, easy access to all the information that is necessary to follow the development of each contract, aggregate exposures in each State and the evolution of loss events thanks to a very efficient computer system.

Today P.R.A.M. is recognised on both sides of the Atlantic Ocean as a serious, reliable market which attaches great importance to long term relationships and:

• is made up of a panel 7 reinsurers, including leading reinsurer (and also the “fronter” on behalf of the other members), Sirius International, who has the sole responsibility of the underwriting;
• represents a portfolio of about 120 treaties coming from 45 ceding companies via 15 producers.