Half a million pounds for one small Lloyd’s Managing Agent

In 8 months Ambant have recovered in excess of half a million pounds for one small Lloyds Managing Agent, this is made up of a mixture of full returns on expired years, as old as 1996, partial returns on schemes in run-off after a review of the reserve position and finally Loss Funds not identified by the Managing Agent but were being held by a third party on their behalf.

As an example there was a particular Loss Fund (£25k) which was held by a TPA, no records of this Loss Fund at the MA, after thorough investigation, several correspondences and meetings, the £25k has now been identified, reconciled and repatriated back to the Carrier.