Swiss Reinsurance Company has launched its ELRiX platform, from where it will trade reinsurance cover on the internet
'Electronic Risk Exchange' forms the basis of the company's electronic trading of standardised risk products and was developed in response to the growing importance of e-business.
The company say the internet has opened up a new marketing channel for direct insurers and brokers.
In the first phase the Exchange will offer limited capacity for windstorm, earthquake and marine cover in certain European countries.
Swiss Re member of Executive Board Yury Zaytsev says: “the Exchange platform has an open and flexible architecture which enables us to respond quickly to any changes in the market.”