SRS to launch Zurich-based specialty MGU
Strategic Risk Solutions (SRS), the world’s largest independent insurance company manager, has announced the launch of Altitude, a Zurich-based managing general underwriter (MGU) focused on alternative risk transfer (ART).
The US-based group said Altitude will operate as an independent entity under the SRS umbrella, offering a range of ART solutions designed to address the growing complex risk management challenges and needs of corporate clients across industries.
Brady Young, CEO of SRS, said: “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.”
Loredana Mazzoleni Neglén, former Swiss Re Corporate Solutions senior executive, will lead Altitude as global CEO. In addition, SRS has recruited several ART and corporate insurance industry experts that will join 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 will focus on a wide array of ART solutions with an emphasis on best-in-class structured (re)insurance and parametric offerings. “Altitude will continuously explore emerging trends and technologies in the insurance landscape such as climate change and supply chain disruption, offering clients access to the latest innovations,” said SRS.
Altitude is set to begin operations in the first quarter of 2024.