Strategic Risk Solutions, Inc., an independent provider of insurance, reinsurance and captive management and advisory services, announced the launch of a Managing General Underwriter (MGU) named Altitude, through which it has the intends to offer a range of alternative risk transfer solutions, including parametric risk transfer.
SRS Altitude will be headquartered in Zurich and will operate as an independent entity under the SRS umbrella.
Altitude MGU will offer its clients a comprehensive suite of ART solutions, which SRS says are “designed to meet the complex and growing risk management challenges and needs of enterprise clients across all industries.”
“We are excited to introduce Altitude as part of our long-term commitment to providing exceptional customer service,” explained Brady Young, CEO of SRS. “The launch of Altitude represents an important milestone in our ongoing efforts to diversify our offerings and enhance our ability to differentiate and meet the evolving needs of our valued clients, captives and broker partners.
The company has hired former Swiss Re Corporate Solutions executive Loredana Mazzoleni Neglén, who will lead Altitude as global CEO.
Strategic Risk Solutions has also recruited a number of seasoned experts from the alternative risk transfer (ART) and corporate insurance industry who will join Altitude in the coming months.
Young added: “We have assembled a team with an exceptional track record and truly industry-leading capabilities to bring Altitude to market, ensuring our customers receive best-in-class service. »
Altitude is expected to begin operations in 2024 and SRS said it would offer its clients “a tailored approach to risk management, supported by strong underwriting solutions skills and track records”.
Altitude will offer its clients a range of ART solutions, with a focus on structured insurance or reinsurance solutions and parametric risk transfer offerings, the company explained.
Altitude will also focus on creating innovative solutions to address emerging trends and risks, such as climate change and supply chain disruption, SRS said.
As an MGU, Altitude should also be able to directly connect corporate insurance clients to capital markets and, with SRS also offering insurance management services, this could be an attractive offering in this area , with the potential to bring an effective capability to enterprise risk transfer buyers. .