Schinnerer to rebrand as Victor, alternative capital a key strategic pillar

by Artemis on June 5, 2018

The Schinnerer Group, a specialty underwriting manager and managing general underwriter (MGU), is rebranding as Victor and putting access to alternative sources of insurance and reinsurance capital as a key strategic pillar.

The Schinnerer Group is well-known to the insurance-linked securities (ILS) fund and alternative reinsurance capital market, having a commercial property facility arrangement alongside Marsh and the world’s largest ILS fund manager Nephila Capital, and having recently acquired catastrophe focused underwriting manager ICAT (International Catastrophe Insurance Managers LLC) from the Paraline Group.

As Victor, the company will be the world’s largest managing general underwriter (MGU), servicing more than $1 billion in premium currently.

The various Schinnerer businesses will take on the Victor brand over the next year, and combine to operate as a single global entity.

This includes Victor O. Schinnerer & Company in the United States, ENCON in Canada, Bluefin Underwriting in the UK, Mees & Zoonen in Italy and the Netherlands and Schinnerer’s operation in Bermuda. Recent acquisitions ICAT and Dovetail Insurance will also form part of the Victor global business but will retain their current names.

“By unifying our companies under a global brand and combining capabilities in analytics, underwriting and technology, we will be able to more quickly offer innovative insurance products and services to our clients around the world,” explained Victor CEO Christopher Schaper.

The Victor strategy will be aligned in four strategic pillars:

  • Underwriting: Matching the underwriting expertise of the group with big data and analytics capabilities.
  • Technology: Offering cloud-based solutions that help agents and brokers to quote, bind and issue insurance policies in real time.
  • Distribution: Commanding a global network of more than 25,000 active insurance agents and brokers.
  • Capital: Working with leading insurance carriers and alternative capital providers to offer innovative coverage solutions and access to efficient capital.

Schaper commented, “Disruption in the insurance industry creates an opportunity for a new approach to the business. Through advanced technology and an innovative global approach to risk analysis, distribution and capital, Victor is well positioned to succeed in the changing environment, building our business organically and through strategic acquisitions.”

With such significant distribution reach it is no surprise that institutional investors and ILS fund managers are all keen to work with the likes of Schinnerer/Victor.

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