International Re (I–RE), a specialist captive insurance and reinsurance managing general underwriter, has formed an admitted insurer partnership with Cimarron Insurance.
Rolling out over the next 12 months, the partnership will underwrite a range of admitted property and casualty lines of business.
Cimarron specialises in providing individual business owners, owner operators and other small business owners with a wide array of insurance, risk management and risk financing solutions.
Co-chief executive Andy Jeckells said this is the first of a number of strategic collaborations with insurers that are expected to roll out through 2021.
“I–RE’s high-performing mid-market clientele deserve to underwrite their own commercial property and casualty insurance, while retaining profits, just as big corporations can, and partnership with Cimarron delivers the high-quality admitted capacity they need to do that. I’m looking forward to working closely with the Cimarron team and extending the reach of RE–PAID to our clients,” said Jeckells.
Paul Halter, CEO of Cimarron, added: “Working together, I–RE and Cimarron are eliminating the barriers that stand in the way of mid-market companies underwriting admitted commercial property and casualty insurance policies in the stand-alone and independent cell captives they own.”
Based in London, I–RE is an alternative risk transfer insurance and reinsurance managing general underwriter and Bermuda-based reinsurance company.
It is a captive specialist and Lloyd’s coverholder which provides innovative insurance and reinsurance solutions to mid-market captives.
I–RE recently announced the appointment of Nate Reznicek as head of US distribution.
Reznicek’s appointment aims to help continue the expansion of I–RE and its RE–PAID product into the US market.
