Optimum Re Insurance Company has reached an agreement with Munich American Reassurance Company to acquire a reinsurance portfolio of 115 client insurers.
This transaction, involving 270 treaties and close to 55,000 reinsurance cessions, will contribute to Optimum Re Insurance Company’s development and strengthen its position in the traditional small to mid-size American insurance companies market. The transaction was effective as of July 1st, 2014.
"This development is in line with the strategy we have established for our company over the past few years, which involves the ongoing expansion of our business by acquiring reinsurance portfolios in the United States" said Sebastien Blondeau, President and Chief Operating Officer at Optimum Re Insurance Company.
"Since July 1st, our team has been contacting the new clientele to provide information about this acquisition. Our aim is to provide the best possible service to our clients, who can count on our competency and determination to meet the highest standards" added Mr. Blondeau.