Our client, a Real Estate Agent – French-speaking Area

Our audit concerned a huge insurance portfolio representing 74 Life and Life Annuity insurance policies contracted with 19 Swiss companies.

It was considered by professionals as a unique and outstanding achievement in the life insurance domain.

We are proud to say that many executives of insurance companies located in Switzerland, Luxemburg and in London confirm that it was the first time such an accomplishment was achieved by an Insurance Broker.

Some of our business relations at Lloyd’s encouraged us to have it recorded in the Guinness Book of Records, which we are in the process of doing.

The main aim of the client was to save part of the assets existing in his insurance portfolio:

• Certain policies were secured as guarantee with two large banks, the BCV in Lausanne and the UBS in Montreux, from which he had obtained a large credit facility.
  
  
• One group of life insurance policies for which he had not paid the premiums was in a bad state and had lost a lot of its value.

Our task was to adapt these contracts in an intelligent way to reduce their number, and to adjust some of them to our objective criteria.

Thanks to his unique know-how, Mr. Noujaim created a personalized financial plan and made an intelligent offer to the management of the two banks.

After various discussions they finally accepted his offer against a fixed amount to be paid in a short time, first providing a bank guarantee to secure the transaction which reduced the amount owed by the client.

Once the bank guarantee was forwarded, the contracts were freed from the banks by which they were secured.

In a second step, Mr Noujaim adapted all of the contracts in record time and obtained an amount of money in cash to refund the bank guarantees.

Mr Noujaim followed the same process to release the contracts deposited as security with the second bank.

The operations were complex and difficulties were encountered from all parties, bank and insurance company. We were nonetheless able to ensure the success of the all necessary tasks and negotiations independently without any help at all from the client.

Mr Noujaim successfully reached his target. For all of these operations the client had to pay a balance due amounting to CHF 300,000.- to the second bank.

In the period from 1994-2009, the client receives life annuities paid monthly or quarterly amounting to CHF 3,000,000.-

For the next 10 or 12 years, the client will continue to cash life annuities to the value of another CHF 3,000,000.-

You can see that at the beginning it was a desperate situation, which we transformed into a real success story.

In spite of the benefit he got, Mr Client never paid a single fee to us. Following the Anglo-Saxon approach, we agreed to a certain percentage between the real purchase value we obtained from insurance companies and the amount paid to the banks.

Given the miserable conditions faced by the client and the complexity of our audit, we can say honestly that our know-how allowed him to earn a lot of money that he never could have dreamed of obtaining at the beginning.

In short, our plan allowed the client to receive a very comfortable secure annual income for the rest of his life.

Eleven "D's"

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