Bermuda-based reinsurer selects Prima Solutions to support its P&C runoff management activities
CORAL GABLES, FL / ACCESSWIRE / May 11, 2021 / Fortitude Re has chosen Prima XL as its cloud-based reinsurance management software. Prima XL is designed by Prima Solutions, a global insurtech group for insurance and reinsurance professionals in North America, Europe, and Asia-Pacific.
Fortitude Re will use the software to support and optimize its P&C runoff activities and to help it evaluate opportunities to acquire and manage legacy insurance portfolios. The Bermuda-based reinsurer chose Prima XL in 2020 and recently went live with the software.
'We were looking for a platform to manage our reinsurance runoff activities, and Prima Solutions already had great expertise in runoff management solutions. What mattered most to us was the flexibility of the solution and its ability to evolve with us,' said Craig Clark, reinsurance manager at Fortitude Re.
Bermuda's largest multi-line reinsurer, Fortitude Re provides retroactive reinsurance and legacy run-off management solutions and services for long-dated, complex risks to the global insurance industry.
'We are excited to see how this fruitful partnership develops. Our desire to support Fortitude Re in their strategy and their ambition in the run-off market makes this relationship a top priority for Prima Solutions,' said Gregory Moliner, CEO of Prima Solutions USA.
About Fortitude Re
Fortitude Re, Bermuda's largest multi-line reinsurer, is backed by a consortium of sophisticated, long-term-oriented institutional investors led by The Carlyle Group and T&D Insurance Group. https://fortitude-re.com
About Prima Solutions USA
Based in Coral Gables, Florida, Prima-Solutions USA is the Group's North American division. U.S. clients include State Auto Insurance Companies, Encova, USAA, AXA, FBL, Progressive Fortitude Re, and Genpact.
About Prima Solutions
A global insurtech group and a key player in insurance in Europe, North America, and Asia-Pacific, Prima Solutions designs cloud-based software for insurance and reinsurance professionals, covering all business processes in the life insurance, health insurance (for groups and individuals), non-life insurance, and reinsurance sectors.
The group serves more than 300 customers and works with a global network of partners. It helps insurance companies go digital more quickly through a comprehensive set of highly configurable, modular, and cloud-based software platforms.
Henry Stimpson, Stimpson Communications
SOURCE: Prima Solutions
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