Services Management of Discontinued Operations

Annual Statement Preparation

As part of the management of discontinued operations, Chiltington is equipped with the resources to prepare a company’s required quarterly and annual statements. Chiltington prepares the entire statutory statement, including state regulatory filings, premium tax filings, and electronic filings with the NAIC and other rating services.

Chiltington maintains the general ledger and prepares the trial balance. Through the use of the various accounting software packages that we are proficient in, Chiltington monitors and maintains investment schedules and prepares the necessary bank reconciliations. Reports are prepared from Chiltington’s accounting and claims system that are tailored for the completion of the major schedules of the statutory statement.

Chiltington works with our clients’ appointed actuary, providing them with year-end loss reserving reports so that the appropriate IBNR can be calculated.

Chiltington also works with our clients’ independent auditors, providing them with the necessary reports so that an opinion on the company’s operations can be formed. Additionally, Chiltington coordinates the state triennial examinations. Both the independent audit and the state triennial examination are performed in Chiltington’s office.

Chiltington’s extensive knowledge in managing discontinued operations and our comprehensive accounting and claims systems gives Chiltington the ability to produce various reports in detail or summary format. The systems used have many of the standard accounting and claims reports, however Chiltington also has the flexibility to create “ad hoc” reports that can meet any of our clients special needs. Chiltington will work with our clients’ management and provide them with a complete reporting package so they are able to evaluate the results of the operation.