Root places its property catastrophe reinsurance programme via Tremor Panorama
Root, the parent company of the Root Insurance family of insurance companies, has placed its June property catastrophe programme with Tremor Panorama, the online marketplace for reinsurance.
It is the latest triumph for Tremor, which recently announced more than $1 billion in new placement commitments, with 20 percent more reinsurer capacity in the last quarter alone.
Sean Bourgeois, Tremor’s founder and chief executive officer, said: “In less than a week, we were able to organise the placement and bring more capacity than was needed, allowing Root to manage its long-term relationships during the process. We were particularly excited that we could bring new markets to the programme while delivering competitive pricing subject to their constraints in record time.”
Isaac Espinoza, Root’s vice president of reinsurance, said: “We were very happy to work closely with Tremor, our broker Willis Re, and our reinsurance partners to execute our property catastrophe programme quickly. Through this partnership, we have been able to provide participating reinsurers with an incredible amount of data with efficient execution. We look forward to working with Tremor in the future.”
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