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Palmarium Profile Doc 30 6 2010


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Palmarium Profile Doc 30 6 2010

  1. 1. 36 Hameri Street Givataim 53330 Tel: +972-3-6728125 Fax: +972-3-6728128 +972- 972- E MAIL: Cell +972-544-554425 Palmarium Ltd. Company Profile April 2010
  2. 2. 36 Hameri Street Givataim 53330 Tel: +972-3-6728125 Fax: +972-3-6728128 +972- 972- E MAIL: Cell +972-544-554425 Palmarium Ltd. was established by Ms. Tamar Almagor in late 2008. Palmarium is an advisory firm aiming at providing professional advisory services in the field of insurance, reinsurance and related areas to both local and international clients. In addition, Palmarium provides corporate finance advisory work to clients seeking to acquire, merge or sell middle market insurance businesses in Israel and overseas as well as cut-off and commutation professional consultation in run-off or similar situations. Among other, Palmarium's advisory services include the following: • Assisting in solving different accounting matters between Reinsurers and their local Insurance clients that need to be reconciled. • Initiating, structuring and negotiating Commutation Agreements on behalf of Reinsurers. • Collecting, analyzing and conveying information needed by Reinsurers for Facultative offers. • Initiating and elaborating new ideas with Reinsurers' relevant to their Israeli clients. • Claims – assisting Reinsurers' in obtaining and summarizing detailed information on their local clients utilizing Palmarium's intimate acquaintance with Israel's leading law firms specializing in the insurance and reinsurance field. • Assisting in designing and drafting Reinsurance agreements and treaties before they are signed. • Serving as Reinsurer's local arm for coordinating and securing Meetings agenda, schedule and subjects to be discussed with its clients. addition Co- In addition to its corporate advisory services, Palmarium has Co- founded Policy an English Insurance Weekly Newsletter addressed to Newsletter professional audience foreign professional audience who operates in the Israeli arena.
  3. 3. 36 Hameri Street Givataim 53330 Tel: +972-3-6728125 Fax: +972-3-6728128 +972- 972- E MAIL: Cell +972-544-554425 Strength Palmarium’s Palmarium main strengths lie in the excellent understanding and familiarity of the Israeli insurance market across its various sectors, along with an extensive exposure to and work experience with the top tier international Reinsurance providers. Palmarium prides itself on its professionalism and creativity, which results in its ability to put together a comprehensive package of professional services. Palmarium maintains close cooperation and business relationships with the management of most of the leading Reinsurers and International Insurance Brokers and with major Israeli accounting and law firms and business consulting firms. Clients Palmarium's clients includes many of the world leading reinsurers including Swiss Re, Hannover Re, Alea and Axis as well as local insurers, insurance brokers and alike. Founder Founder Ms. Tamar Almagor has spent the last twenty years of her working career in the Insurance industry in Israel. Prior to establishing Palmarium, Tamar Almagor was the Head of the Reinsurance Department, managing the reinsurance array of the Phoenix Group, the 4th largest Insurance Groups in Israel. Her responsibilities include among other: • Structuring and maintaining reinsurance agreements for general insurance, including property, engineering, liabilities, miscellaneous, motor hull, motor bodily injury, PA and CAT risk for life and PA insurance. • Dynamic adjustment of reinsurance agreements to the company's actual needs while initiating applications of optimization and using decision making models. • Forming of underwriting regulations in accordance with reinsurance agreements and data base supporting the department's activities. • Initiating, organizing and carrying out of financial arrangements with past reinsurance companies that is or has been in the process of insolvency, including companies who evaded paying outstanding debts, concluding commutation agreements. Ms. Almagor holds a B.A. degree in Economics with major in Insurance studies from The Israeli College of Insurance and had graduated Certification studies at The Israeli Insurance Institute.
  4. 4. 36 Hameri Street Givataim 53330 Tel: +972-3-6728125 Fax: +972-3-6728128 +972- 972- E MAIL: Cell +972-544-554425 Below is a selective list of Palmarium's latest advisory engagements: Advising Advising Advising With regards to Israeli With regards to With regards to Insurance Groups Commutation Commutation Financial reporting Settlements Settlements Advising Advising Advising With regards to With regards to With regards to Cut Off Reinsurance Treaties Certain Debt Settlement of Settlement portfolio companies