Source: Artemis. Click here to view original publication (10th
August 2016).
Exchange Re, a platform for collateralised reinsurance or
cell-based ILS transactions and the first to be launched in Malta,
has now received official approval to begin business by the Malta
Financial Services Authority (MFSA).
Exchange Re, or Exchange Re SCC Limited to give its full name,
pitches itself as the first "ILS platform in Malta for private
collateralised reinsurance transactions organised as a
securitisation cell company (SCC)," and launched earlier this
year when it received approval in-principle from the MFSA.
Exchange Re is owned and operated by insurance and captive
management specialist USA Risk, which has a strong foothold in
Malta and took the opportunity to launch the first reinsurance
special purpose vehicle (RSPV) on the island as it sought to
capitalise on the appetite to bring ILS and collateralised
reinsurance business to the domicile.
