Having been acquired by retail insurance agency network Acrisure LLC in 2018, Beach & Associates, the specialist insurance and reinsurance broker, has now been rebranded as Acrisure Re and Acrisure London Wholesale.
In this alignment with the brand of its parent Acrisure, Acrisure Re and Acrisure London Wholesale are being positioned to capitalise on value chain opportunities with the goal of connecting “forward-thinking underwriting capital with large quantities of risk.”
The company hopes to build out a platform that makes it the most attractive option for those seeking to access risk at scale.
Which goes for the insurance-linked securities (ILS) community and as ILS funds already have established relationships with former Beach brokers, including in the retrocessional reinsurance and industry loss warranty (ILW) broking areas, will be hoping the separation of Acrisure Re into a dedicated reinsurance division will help them to access more risk through the firm.
“Acrisure combines the strengths of a top brokerage and a leading tech company,” explained Grahame Millwater, a member of the Acrisure Executive team and Chairman of Acrisure Re. “Beach & Associates recognizes the power of going to market as Acrisure, which will create copious value across multiple industries using data and AI.”
Jason Howard, CEO of Acrisure Re added, “We’ve only scratched the surface in what is possible. Concepts such as advanced underwriting algorithms with predictive modeling will completely change the game for our clients and partners. And through our evolution, we are proud to remain an employer of choice for market-leading talent seeking to translate data into insights for clients worldwide.”
Acrisure has embraced technologies such as artificial intelligence, having acquired Tulco LLC’s insurance assets and developing its own Acrisure Technology Group.
The plan is to leverage advanced technology to build on its top-10 broker position and expand out into verticals, such as reinsurance and London wholesale with its new brand identity.
The now Acrisure Re team brokers reinsurance and retro transactions involving capital market, collateralized players or ILS fund markets, from its offices in Bermuda, London, Zurich and New York.