inreon confirms Risk Transfer Exchange buy

LONDON - inreon, the reinsurance exchange created by Munich Re and Swiss Re, has announced the acquisition of Risk Transfer Exchange. The deal brings together two of the leading internet-based reinsurance exchanges in the North American market. inreon hopes the deal will significantly strengthen its North American operation and "create greater efficiency and transparency for the trading of reinsurance products on the Internet." Inreon is based in London and has offices in seven European locations as well as the US.