Insurance and Reinsurance Solution Launched for Midsized Captives

Captive insurance and reinsurance managing general agent (MGA) International Re (I–RE) has officially launched I–RE SA, a midsized captive insurance and reinsurance solution. Led by cofounders Rupert Taylor and Andy Jeckells, the MGA has completed a number of transactions with US captive insurance companies since early 2019.

I–RE said it aims to open up market access to insurance and reinsurance solutions for high-performing midsized captive insurance businesses. I–RE offers midsized captive insurers access to A+ rated capacity allowing them to participate in the risk and reward of their commercial insurance, a route that, up to now, I-RE said, has only been available for large captives.

I–RE's captive insurance solution supports captive managers and brokers in growing their client base. By offering captives the ability to participate in their own re/insurance and retain up to 50 percent of their current premium expenditures, I-RE believes its solution will encourage midsized businesses to set up new captive vehicles.

A Lloyd's coverholder, I-RE currently underwrites 18 business lines for insureds and their captive insurers. While it will initially focus on US business, the organization anticipates expanding both its geography and product suite. Having already completed a number of transactions in the United States, I-RE works closely with captive managers, brokers and agents, and third-party advisers.

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 chief underwriting officer, I–RE, added, "It's great to be able to offer midsized 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, claims management, capital efficiency and delivers the financial benefits of sharing in potential profits."

Andy Jeckells, CEO and CCO, I–RE, and Rupert Taylor, CEO and CUO, I–RE, are pictured above left and right. Photos courtesy of International Re (I-RE).