WELLINGTON JOINS ONLINE REINSURANCE PLATFORM

Lloyd’s operator Wellington Underwriting has signed a deal to participate in the eReinsure.com online reinsurance platform. The tie-up will involve the UK insurer’s US managing general agent Wellington Underwriting Inc, which writes business on behalf of Wellington syndicate 2020 at Lloyd’s. The US unit provides facultative reinsurance from its headquarters in Hartford and a network of six regional offices. Wellington Underwriting Inc CEO Stan Kott said that the eReinsure platform would help the company respond to submissions more quickly. “We see eReinsure and its technological advancements as a major step forward for those of us who want to benefit from e-commerce without restricting our ability to negotiate appropriate reinsurance solutions for all classes of business”, he added. UK-based Wellington Underwriting, which already conducts business electronically via the inreon reinsurance exchange, is the second international player within weeks to sign up to eReinsure. Swiss Re recently expanded its online operations by joining the platform .