AM Re has facilitated the introduction of Asian capacity providers to US risk a match that benefits both parties and which is going from strength to strength as a result, Shevawn Barder, the company’s chief executive, tells Intelligent Insurer.
AM Re has seen tremendous growth since its inception in 2014. Traditionally, through the utilisation of Lloyd’s markets, AM Re predominantly covered marine and inland marine business. In recent years, following the curtailing of marine and energy classes at Lloyd’s, AM Re has commenced a diversification process in terms of the security it works with and in the lines of business it writes.
This vacuum has provided an incentive for non-European insurers, specifically Asian ones, to seek market share in the US. AM Re has started to expand its portfolio, striving to find new opportunities within the specialty reinsurance space.
Shevawn Barder, the company’s chief executive, says that historically the reinsurance market has been dominated by large global reinsurers with a strict underwriting model and very high costs. After years representing Lloyd’s securities, AM Re has seen a retrenching of the Lloyd’s markets, especially in marine and energy classes, with very little opportunity for growth and high barriers to entry.
AM Re, Growth, Lloyd's Markets, Marine, Energy, Specialty Reinsurance, Shevawn Barder, Global