U.S. RE Helps Reinsurance Buyers Prepare For 2000
With growing signs that the hardening of the retrocessional market noted earlier this year is now spreading to the primary reinsurance market, we're offering reinsurance buyers help to meet their business plans in the year 2000.
As a long-time specialist in alternative reinsurance products, we can offer options that will lessen the impact of higher prices for traditional reinsurance. Rather than simply accepting higher quotes for conventional reinsurance, we're advising clients and prospects to consider nontraditional coverage that will provide adequate protection at lesser cost.
We take pride in the fact that U.S. RE does more than arrange reinsurance. We act as consultants to our clients. We work with them to review their reinsurance programs in a search for ways to hold down costs while providing the protection they require. We made a name for ourselves in the hard market following Hurricane Andrew, when there was a severe shortage of reinsurance capacity, by coming up with a nontraditional, multiyear product. This product filled serious gaps in the reinsurance programs of several major insurance companies. We designed it to meet the risk transfer standards of the Financial Accounting Standards Board. In recent years we've developed Successor Products that currently are in strong demand as reinsurance buyers look to harder markets in 2000. If you're concerned about the impact on your business plan of expected rising reinsurance costs next year, please give Brian McGuire, U.S. RE Senior Vice President, a call at 212-808-5500.
As you read through this issue of U.S. REviews, I hope you'll get a sense of our commitment to client service in all areas. As far as we're concerned, the client is king. That's why we've reorganized and expanded services to meet the needs of a changing marketplace. Today, U.S. Re has evolved from a reinsurance intermediary into a financial services group of companies built on a solid foundation of reinsurance brokerage and consulting. Currently, we offer traditional and nontraditional reinsurance, multi-year finite products, captive and rent-a-captive facilitation through our Bermuda companies; wholesaling and under-writing management, venture capital investments, asset management, and risk securitization. We believe our diversified products and services can meet the needs of the most discriminating reinsurance buyer.
As we grow and add products, we continue to strengthen the U.S. RE team. I'm pleased to report that Larry Shatoff recently joined us as Senior Vice President. Larr y brings 25 years of reinsurance, insurance, and actuarial experience to U.S. RE. Welcome aboard, Larry.