Argo Re-Horseshoe Re partner on ILS
Argo Re, part of the Argo Group, has become the latest reinsurer to form a vehicle that will allow it to participate in the rapidly growing insurance-linked securities (ILS) markets.
The Bermudian firm has joined forces with specialist insurance-linked securities service firm Horseshoe Re, part of the Horseshoe Group, to offer ILS fronting services to the market. The services would be used by ILS funds and other investors seeking to deploy capital into reinsurance contracts.
Argo said the arrangement would expand its reinsurance product offerings to meet the growing demands of the ILS market. It combines Argo Re's depth of underwriting experience and financial strength to create a seamless link between the reinsurance and capital markets, the company said.
“Given the limited number of reinsurers available to support programmes at this level in the ILS market, we saw an opportunity to address this need,” said Andre Perez, chief executive of Horseshoe Group.
“Argo Re's expertise in worldwide catastrophe reinsurance underwriting coupled with Argo Group's financial strength makes them an ideal partner.”
Matthew Wilken, president of Argo Re, said: “We are delighted to strengthen the long-term trading relationship we have developed with the Horseshoe Group in search of ever more effective reinsurance solutions for our mutual customers.”
