AN innovative insurtech firm has concluded plans to expand significantly its operations by establishing a reinsurance vehicle, marking a shift from its current role as a managing general agent (MGA).
The company said the strategic move is designed to support its future growth and enhance market presence.
Named Re, the newly created reinsurance vehicle, will allow the insurtech firm to collaborate directly with reinsurers and insurers, including working with partners within its existing global reinsurance treaty, thereby opening up a wider range of business opportunities.
Reports state that the company’s clients will continue to engage directly with their insurance partners, ensuring seamless service and continuity.
The company explained that this development reflects its commitment to leveraging its technological expertise to innovate and grow within the insurance sector and by moving into reinsurance, it aims to provide more comprehensive solutions and expand its influence in the global insurance market.
ALSO READ: June 12: FG unveils activities for Democracy Day
and then