Reinsurance MGA, marine specialist form joint venture
Belgium-based reinsurance managing general agency (MGA) FourteenZeroFive and marine group 24Vision.Solutions formed a joint venture to facilitate the take up of reinsurance for engineering and energy placements across Africa.
24Vision.Solutions is specialized in delivering solutions across all the aspects of marine operations. FourteenZeroFive Insurance Solutions is specialized on engineering and energy reinsurance solutions while investing in Africa.
Under the agreement, 24Vision will make available to FourteenZeroFive its own specialized corporate platform, aiming to ensure transparency to the reinsurance market accepting engineering and energy placements across all Africa.
“By forming this partnership, we can guarantee to our clients a digital platform that will facilitate the way construction and operational risks are underwritten and managed in Africa while reducing claims frequency and severity together with associated costs,” said Attilio Tornetta, managing director of FourteenZeroFive. “As well, our reinsurers will experience a transparent and linear way of managing risks accepted on their behalf, having a live control on underwriting discipline and performances.”
Martin Lanting, chief visionary officer of 24Vision.Solutions, added: “We have high interest in developing our presence in Africa and we believe our services on the marine side will be of high interest for those existing and new project investments in such a dynamic continent like Africa.”
“Together we will redefine the understanding of risk transfer solutions for African investments to promote horizontal partnership and disruptive innovation,” Lanting added.
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