The reinsurance broking market continues to expand in terms of choice, with a new specialist set to be launched by the Ardonagh Group, who have announced Inver Re as a new reinsurance broker brand formed after its acquisition of Corant Global.
Inver Reinsurance Brokers Limited has been registered for the establishment of Ardonagh’s new reinsurance broking arm and the group has ambitious plans for it.
Inver Re will “harness the scale, resources and reach of Ardonagh, attract and empower the best talent, and become a top five global player,” the company explained today.
The launch of Inver Re comes soon after Ardonagh announced the acquisition of the insurance operations of BGC Partners, which is made up of the Ed and Besso Broking Groups, saying that Inver Re will “draw upon the deep pool of expertise of the combined businesses.”
Ardonagh is also seeking to trademark InverRe, as it looks to build the brand around its new reinsurance operation.
Ardonagh explained that Inver Re will follow a “consultative, bespoke approach to the core discipline of treaty reinsurance” while it will also work to create tailored risk strategies to suit cedents, using a combination of traditional actuarial methods and sophisticated data science to “provide new levels of insight and analysis.”
Ardonagh Group CEO David Ross explained, “There has never been a better moment to launch an independent reinsurance broker in the market. The collective experience and relationships of the newly enlarged Group, combined with rigorous analytical abilities and global approach will provide insurers with a trusted, independent choice.
“We’re incredibly excited to build a credible alternative in a market where choice and flexibility are increasingly hard to come by. We are committed to building a home for the very best talent in the market and building an offering focused on taking the time to understand every nuance of our clients’ objectives and will ensure their goals are met.
“We look forward to welcoming experienced professionals looking to grow, develop and build their legacies within an entrepenuiral, independent platform, and leveraging the strong foundations and track record of the Group to build a reinsurance business of scale and relevance.”
Ardonagh wants to provide a “credible alternative” reinsurance broker, expanding choice and flexibility in a market where those traits are becoming more limited as choice declines, the company said.