PRO Insurance Solutions has been retained by Bermuda domiciled reinsurer Rosemont Reinsurance, a subsidiary of GoshawK Insurance Holdings to provide strategic and run-off management solutions.

Rosemont Re was placed in to run-off in October 2005 following a significant decline in its capital base as a result of substantial catastrophe losses from both the 2004 year and in particular from hurricanes Katrina, Rita and Wilma in 2005. The appointment of PRO follows Rosemont Re's review of run-off solutions and an open tender process.

Rosemont Re will continue to maintain a small presence in Bermuda to provide oversight of the run-off and to satisfy Bermuda regulatory requirements. As such, PRO says it will work closely with Rosemont Re's newly appointed president mark Bridges. PRO's initial priority is to work with management to produce a clear and effective plan to bring both operating and financial stability to Rosemont Re in the near-term and to optimise the run-off with a view to delivering practical finality.