THE COMPANY:
CVC arm of Global reinsurance firm with ~$60bn in global assets
THE CHALLENGE:
Due to investor bias, the firm had invested across 3 years without any return
Portfolio firm had a monthly burn rate of £180-200k, were reliant on legacy contracts with a good gross margin and were due to run out of runway in 2 months
THE APPROACH:
Cruxy & Company delivered a full commercial review on the business to be turned around in 3.5 weeks
This involved a full internal review of the business, including team capability, financials and roadmap
Market viability was assessed through market analysis and competitive analysis
THE RESULT:
Insurer went forwards with the recommended approach and action plan
Legacy business was sold, with insurer shareholding increased to approximately one third to develop roadmap as recommended by Cruxy & Company
Their first new contract is already in place despite new product not expected to be available until April 2019