Greenlight Re has always done things a little differently. Simon Burton, its chief executive, explains to Intelligent Insurer why he hopes its approach to insurtech, Solvency II and the mix of its portfolio will continue to set it apart.
Having the ability to invest in insurtech ventures with the purpose of developing new products or entering new markets is now a cornerstone of Greenlight Re’s strategy, according to Simon Burton, its chief executive.
The Cayman Islands-based reinsurer formed insurtech unit Greenlight Re Innovations in March 2018 to seek technology and innovation opportunities relating to the reinsurance and insurance markets.
The unit has already completed three deals. It has invested in Galileo, a Hong Kong-based insurance and reinsurance platform-as-a-service (PaaS) business which is focused on emerging markets in Asia, and which uses blockchain.
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