26 January 2023Insurance

Acrisure Re expands into one of largest facultative markets in Central Eastern Europe

Acrisure Re, the reinsurance division of global broker Acrisure, has expanded into “one of the largest markets for facultative reinsurance in Central Eastern Europe” through a partnership with a Polish reinsurance broker.

Acrisure Re’s facultative division has entered into a preferred partnership broker agreement with Smartt Re specifically for its Central Eastern European (CEE) facultative business.

Smartt Re is a Warsaw-based reinsurance broker with operations in the wider region. The company is part of MJM Holdings brokerage group specialising in reinsurance programmes in key sectors of the economies across the CEE facultative and obligatory reinsurance market.

The agreement will provide Acrisure Re access to the local market, which it says is one of the largest markets for facultative reinsurance in Central Eastern Europe, benefiting from Smartt Re’s domestic knowledge and extensive market relationships.

Smartt Re will gain access to Acrisure Re’s global distribution network; broad broking expertise across the global re/insurance market as well as the full suite of Acrisure Re’s analytical tools and solutions.

The news follows a number of facultative strategic partnerships designed to expand Acrisure Re’s footprint and focus within key territories including Leue & Nill in Germany and Mahindra Insurance Brokers in India.

Ghassan Mansour, head of facultative reinsurance at Acrisure Re, said: “We are delighted to be partnering with Smartt Re in Poland following our recent success together across the heavy industry sector. Their outstanding reputation as Facultative specialists in the large or complex segment is a win-win for both businesses, and I am delighted to be working with our friends at Smartt Re to deliver for our mutual clients.”

Michal Chmielewski, vice president for international expansion of MJM Holdings and Smartt Re founder, said: “I’m extremely proud to be partnering with Acrisure Re. We see a huge opportunity to grow in the Facultative space across the CEE region and our clients stand to benefit from our combined value underpinned by technology know-how. We share the same entrepreneurial spirit and unstoppable drive to finding reinsurance solutions even when they seem unreachable.”

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