30 March 2023Insurance

A new multi-line reinsurer is born—with the aim to go global

A new multi-line reinsurer that underwrites property, engineering, marine hull and cargo and liabilities classes of business has launched in Dubai with an ambitious goal to become a global player.

SM Reinsurance Company (SM Re) has started operating in Dubai, United Arab Emirates.

It underwrites reinsurance business from emerging countries in Africa, but in the medium term, plans to expand its territorial scope to beyond Africa with the aim of becoming a global reinsurer.

The multi-class reinsurer says it is committed to becoming a “reinsurer of choice” for clients seeking a “trusted” strategic partner that will deliver to their reinsurance needs on a “win-win and sustainable basis”.

SM Re claims it has conducted extensive studies on what clients, especially those from the emerging countries, expect from their reinsurer partners.

SM Re promises to pay valid claims “faster than its peers” to minimise disruption to the businesses and provide them with a quality service.

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