International Re launches mid-sized captive solution

A new solution for mid-sized captives has been launched by International Re (I–RE), the specialist captive insurance and reinsurance MGA. The Lloyd’s coverholder has established I–RE SA, which the company describes as a “revolutionary mid-sized captive insurance and reinsurance solution”. I-RE began trading at the start of 2019, currently underwriting 18 lines of business for insureds and their captives. The MGA is led by co-founders Rupert Taylor and Andy Jeckells and has completed a number of transactions with US captives. I–RE said its mission is to open up market access to insurance and reinsurance solutions for high-performing mid-sized captive businesses. “I–RE offers mid-sized captives access to A+ rated capacity, allowing them to participate in the risk and reward of their commercial insurance, a route that up to now has only been available for large captives. I–RE’s unique captive solution will also see captive managers and brokers able to grow their client base significantly. By offering captives the ability to participate in their own re/insurance and retain up to 50% of their current premium spend, many mid-sized businesses will be encouraged to set up new captive vehicles,” said the MGA. It added that initially its focus will be on US business, but I–RE said it sees significant opportunities to rapidly expand both geographically and in terms of products. “I–RE has already completed a number of these transactions in the United States and is working closely with captive managers, brokers and agents and third-party advisers, where it is receiving significant support for its market-changing product,” the MGA said. Andy Jeckells, CEO and chief commercial officer, I–RE, said: “International Re is an ambitious MGA, bringing revolutionary, market-changing insurance and reinsurance to smaller captives, currently underserved by the market. This growth opportunity is exciting interest from captive managers and brokers able to see opportunities to grow their client base exponentially by offering our innovative solution. As a result, our pipeline is very strong and I–RE will see significant growth in the first year and ongoing in the future.” Rupert Taylor, CEO and CUO, I–RE, added: “It’s great to be able to offer mid-sized businesses the opportunity to participate in their exposures and actively underwrite commercial risks in this way. Distribution comes from brokers and agents, financial advisers and CPAs, as well as existing captive managers. It’s anticipated that this product will radically increase the number of captive formations and provide a significant change in the way that strong-performing businesses will buy their insurance. We’ve worked hard with captive managers, brokers and the market to deliver an integrated solution that offers numerous benefits for captives, ranging from scope of cover [to] claims management [and] capital efficiency, and delivers the financial benefits of sharing in potential profits.”

International Re launches mid-sized captive solution

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