Flagstone Reassurance Suisse SA, a wholly owned subsidiary of Bermuda-based Flagstone Reinsurance Holdings Limited, announced it has entered into a Technical Underwriting Agreement with Imperial Reinsurance Company Limited.
Flagstone indicated that in support of the agreement the Company would “provide technical underwriting, modeling, and actuarial support to Imperial Re’s underwriting operations in South Africa.”
In addition Flagstone Re has also established a Quota Share arrangement with Imperial Re in order to further assist in the growth and development of their diverse portfolio.
Flagstone Chairman Mark Byrne commented: “We are delighted to have established this agreement with Imperial Re as South Africa is an increasingly important insurance market. We are confident that our relationship with Imperial Re will enable us to service a meaningful portfolio, add further value to Imperial Re’s excellent underwriting capabilities, and expand our knowledge of the market in this region.”
Imperial Re’s Managing Director Andrew Tennick, indicated that the newly formed relationship would provide Imperial Re “with substantial additional expertise and resources. We look forward to developing a sustainable portfolio and relationship with Flagstone, and further contributing to the success of Imperial Holdings.”
Source: Flagstone Re – www.flagstonere.bm
Topics Underwriting
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