Gossmann & Cie., the liability management company specialising in digitally intuitive capital optimisation and ongoing portfolio refinement for the insurance industry, has received the license to operate its risk carrier, a protected cell company (PCC) from the Malta Financial Services Authority.
The new insurance carrier, named Gossmann & Cie. Insurance PCC, is authorised under the Insurance Business Act (Cap 403) to carry on the business of insurance.
The PCC is fully operational and able to create customised cell-based solutions as well as manage the relevant insurance portfolios transferred to Gossmann & Cie., with immediate effect.
The board has appointed Joanna Aquilinaas CEO of the PCC.
Aquilina is a chartered accountant and expert for PCC structures and has been part of the Gossmann & Cie. Group since 2019.
Arndt Gossmann, liability management expert and founder of Gossmann & Cie., commented: “With our risk carrier now licensed and open for business, we are fully operational and ready to close first transactions.”
“The timing is perfect as interest in ongoing portfolio refinement combined with disposal of legacy and non-core insurance businesses and portfolios, has risen noticeably among European non-life insurers in the current COVID-19 related conditions, which further strain regulatory capital ratios and accentuate balance sheet volatility.”
He added: “We understand the mounting interest of insurers to preserve and bolster capital levels, reduce volatility and safeguard against any additional financial uncertainties to the extent possible. Mitigating exposures and refining portfolios are more important now than it has ever been. Digital analytics and customised cell-based structures can offer greater speed and solution flexibility in times like these.”
