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Additional Product Features

Cash Flow Advantages

IGP offers a variety of cash flow arrangements at the local level. These arrangements can be used by self-experienced clients to encourage, through tangible incentives, a single larger subsidiary or group of subsidiaries to move locally insured benefit plans to an IGP Network Partner. These products are easy to administer and produce a direct return to the local subsidiary.

Advanced International Dividend

Larger international accounts with a pattern of consistent International Dividends are eligible to receive payment of a portion of their estimated International Dividend in advance of their actual International Experience Report.

This Advanced International Dividend is generally equal to a percentage of the average Contribution to the International Account for the three preceding International Experience Years, less any deficit carried forward with interest from prior years.

Once the International Experience Report has been prepared and the actual International Dividend has been determined, the difference between the actual and Advanced International Dividend, if positive, will be paid to the IGP client. If the actual International Dividend is less than the Advanced International Dividend, or if a deficit should occur, the IGP client will reimburse IGP the overpaid dividend.





Annual Retro

This agreement, sometimes known as Loss Free Pooling, offers a client the opportunity to eliminate risk charges, which can lead to the payment of larger dividends in years when claims experience is favorable. The client, in turn, agrees to reimburse IGP for any deficits that may occur in its international account.

Captive Reinsurance

IGP can tailor a captive arrangement to address the specific needs and objectives of our multinational clients. We have had extensive experience in doing so for many years. Our capabilities include ceding risk and passing risk premiums to the Client's Captive. 100% of risk and premium of the coverages placed with IGP Network Partners can be ceded and passed in nearly all IGP countries, although some countries have maximum allowable percentages.

Captive Reinsurance With Risk Ceding Only

IGP can cede all or part of the risk on life, disability and medical coverages to the Captive in most countries.

General Requirements:

  • IGP self-experienced account
  • No outstanding deficit in the associated IGP pooling account

An annual settlement procedure simplifies administration by netting out premiums and other inflows with claims and other outflows into one single transaction. The advantage of this approach is that the administrative burden on the Captive is minimal. IGP delivers informative reports on the experience on each line of business, for each contract, in each country.

Captive Reinsurance With Risk Ceding and Premium Transfer

IGP's Captive product can also include the transfer of net risk premiums associated with reinsured life, disability and medical coverages.

General Requirements:

  • No outstanding deficit in the associated IGP pooling account
  • Premiums paid annually in advance
  • Over 2,000 lives insured with IGP Network Partners
  • Over USD 1 million annual net ceded risk premium
  • Over USD 25,000 net ceded risk premium per plan

John Hancock transfers the premium, net of IGP retention, local taxes and commissions, to the Captive within a few days of the premium having been paid to the IGP Network Partner by the subsidiary.

A letter of credit or other form of security will be required.

Claims will continue to be paid and increases in reserves accounted for by IGP as they are incurred. IGP will send a request for claim reimbursement to the Captive at the end of each quarter.

A final settlement will take place at the end of the year, which will capture any claims that were incurred and reported in the last quarter, as well as any outstanding amounts due to premium adjustments resulting from changes in the insured population, local dividend payments, and so on.

Click here to learn more about IGP's Captive product.

First Year Advanced Dividend

This product enhancement is available for self-experienced clients who want to encourage, through positive incentives, a single larger subsidiary or group of subsidiaries to move locally insured benefit plans into their IGP pool.

Through the advance payment of the projected first year International Dividend, the subsidiary can improve its cash flow situation at the beginning of the year it joins the parent's IGP pool.

A First Year Advanced Dividend improves the subsidiary's cash flow at the beginning of the year that it joins the parent's International Account. This local cash flow product is offered to self-experienced clients whose subsidiaries are expected to produce sufficient international margins.

Global Retro

In many countries, a Global Retro can initially reduce the premium paid for life coverage and disability riders. The amount of the reduction is based on each subsidiary's claims experience, as well as the client's overall experience in its International Account.

The local terms and conditions affecting the beneficiary are not altered in any way under this arrangement. In the event of an international deficit, the subsidiary repays some or all of the unpaid premium, but never more than the total premium payable in the absence of the Global Retro.

Investment Income

A complete system of interest credits and debits applies to all reserves and to local margins or deficits. Interest on premium float or indexation in hyperinflationary countries provides IGP clients with additional cash flow benefits.

Release of Incurred But Not Reported
(IBNR) Reserves

This feature provides for the immediate release of reserves being held to pay incurred but not reported claims, and waives the establishment of these reserves for new contracts. These reserves will only be recalled, up to the level of IBNR reserves that would have been held to settle claims that arose after a contract has been terminated, if the overall International Account is in a deficit.

IGP will waive the establishment of IBNR reserves (or release IBNR reserves if already established) in most countries with the execution of a Release of Incurred But Not Reported Claims Reserve Agreement.