New tool to administer assumed reinsurance

WAYNE, Pa.—Software and information processing solutions provider SunGard has released an assumed reinsurance administration solution.

SunGard's ProSume administers assumed premiums and losses for all types of treaty and facultative contracts. ProSume also provides cash management capabilities and offers controls for receivables and payables balance and retrocessional reinsurance administration.

ProSume can be installed as a stand-alone solution or in conjunction with Wayne, Pa.-based SunGard's iWorks ProCede Advantage ceded and retrocessional reinsurance administration solution.

SunGard's iWORKS is an information technology product family for the insurance industry offering a range of products and services.