(Image source: Extraordinary Re homepage.)
Extraordinary Re (!Re), a platform for daily trading of insurance liabilities belonging to a Bermuda-domiciled reinsurer, will adopt actuarial and analytics services from Xceedance (Boston) to support disciplined underwriting and furnish ongoing, market-relevant information in support of Extraordinary Re’s insurance contracts platform, according to a vendor statement.
Xceedance reports that Extraordinary Re recognized the need to develop strong actuarial models for the risks the company covers. The vendor says that, with significant experience in the global reinsurance market, extensive reinsurance actuarial support capabilities, and access to a network of technology vendors and solutions, the actuarial team at Xceedance is well positioned to comprehensively address the needs of Extraordinary Re.
“We sought an industry-experienced partner with a solid understanding of reinsurance to provide actuarial models of reinsurance submissions,” comments Lee Van Slyke, chairman and CEO, Extraordinary Re. “Xceedance provides an in-depth understanding of financial risk modeling and reinsurance-specific actuarial support, as well as expertise in organizing big data—making it an easy choice for us.”
Unique Actuarial Capabilities
“The Xceedance Actuarial and Analytics team is thrilled to work with Extraordinary Re on a distinctive solution for its objectives,” comments Matthew Duke, SVP and chief actuary, Xceedance. “The opportunity to partner with Extraordinary Re on unique and productive actuarial capabilities is gratifying. We are well positioned for success, as our global team of credentialed actuaries brings a deep understanding of the reinsurance marketplace and our strategic relationships with innovative technology companies provide beneficial support for reinsurers.”