Strategic Risk Solutions, Inc., an independent provider of insurance, reinsurance and captive management and consulting services, has announced the launch of a managing general underwriter (MGU) named Altitude, through which it intends to offer a range of alternative risk transfer solutions, including parametric risk transfer.
SRS Altitude will be headquartered in Zurich and operate as an independent entity under the SRS umbrella.
Altitude MGU will offer clients a comprehensive suite of ART solutions, which SRS says are “designed to address the growing complex risk management challenges and needs of corporate clients across industries.”
“We are thrilled to introduce Altitude as an integral part of our long-term commitment to providing exceptional client service,” explained Brady Young, CEO of SRS. “The launch of Altitude represents a significant milestone in our ongoing efforts to diversify our offerings and enhance our ability to differentiate and meet the evolving needs of our valued clients, captives and broker partners.”
The company has hired Loredana Mazzoleni Neglén, a former senior executive at Swiss Re Corporate Solutions, who will lead Altitude as its Global CEO.
Strategic Risk Solutions has also recruited a number of seasoned alternative risk transfer (ART) and corporate insurance industry experts who will join Altitude in the coming months.
Young added, “We have assembled a team with an outstanding track record and genuinely industry-leading capabilities to launch Altitude in the market, ensuring our clients receive best in class service.”
Altitude is set to begin its operations in 2024 and SRS said it will offer clients “a bespoke approach to risk management backed by strong underwriting solutions competence and track records.”
Altitude will offer clients a range of ART solutions, with a focus on structured insurance or reinsurance solutions and parametric risk transfer offerings, the company explained.
Altitude will also focus on creating innovative solutions to respond to emerging trends and risks, such as climate change and supply chain disruption, SRS said.
As an MGU, Altitude should also be able to directly connect corporate insurance clients with the capital markets and with SRS offering insurance management services as well, this could be an interesting offering in that space with the potential to bring efficient capacity to corporate risk transfer buyers.