Rewire opens online marketplace for catastrophe risk & ILS to users


Rewire Holdings LLC, a firm that launched in September 2014 aiming to increase efficiency in the syndication of catastrophe risk to reinsurance and capital markets, has today opened its online ILS and catastrophe bond marketplace to users for the first time.

Rewireconnect is a web-based marketplace where qualified institutional investors who are focused on catastrophe risk as an asset class can buy, sell or trade in ILS and catastrophe risk assets.

Rewire Holdings, seeks to replicate through online technology the origination, structuring, marketing and distribution of ILS and reinsurance transactions. Through this technology, Rewire is able to enhance the efficiency of the ILS or reinsurance deal creation by speeding-up the process, improving the transparency and increasing communication and feedback.

The firm has now completed the development of its online marketplace for catastrophe risk and is opening the marketplace to users today. As well as the marketplace, Rewire Holdings also offers broker dealer services to help structure and place primary ILS transactions.

Using the Rewireconnect platform, investors and sponsors can more actively monitor and participate in both primary and secondary catastrophe bond offerings, collateralized reinsurance and industry loss warranties (ILW’s).

Rewireconnect will enable insurance companies or cedents to easily launch a transaction to market and offer new issuances directly to the specialised and growing institutional investor community.

For the benefit of investors, the marketplace will allow easier and more transparent syndication’s of primary ILS or cat bond deals, while also providing them with an efficient environment to actively participate in the secondary cat bond market.

Rewire founders Stefano Sola and Richard Pennay, both insurance-linked securities (ILS) market veterans, told Artemis that “both investors and insurance companies have expressed a great deal of interest in Rewireconnect.”

Sola and Pennay said that Rewire “looks forward to further enhancing and growing the involvement of alternative capital in the catastrophe reinsurance market.”

Interested potential users can visit the Rewireconnect website.

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