BIG 2 LAUNCH ONLINE RE

The world’s two largest reinsurers, Munich Re and Swiss Re, whose combined premiums total more than $25 billion, teamed up with Internet Capital Group, a leading B2B provider, and Andersen Consulting to launch “inreon,” an on-line platform for standard reinsurance policies. The name stands for “insurance meets reinsurance online” and aims to provide insurance companies, brokers and professional reinsurers with transaction capabilities for standardized reinsurance covers. Swiss Re, Munich Re and ICG each have a 25 percent stake in the London-based venture, with an initial capital of $37.5 million. Andersen holds 5 percent, and the remaining 20 percent is reserved for management shares, and for interested insurers.

Topics Reinsurance