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Swiss Re to trade reinsurance over the internet

Swiss Reinsurance Company has launched its ELRiX platform, from where it will trade reinsurance cover on the internet

&#39Electronic Risk Exchange&#39 forms the basis of the company&#39s 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.”


First Quadrant acquire Prolific Objective Asset Management

Investment managers First Quadrant has acquired London based Prolific Objective Asset Management.The deal will increase Quadrant&#39s £8.5bn in assets and overlays via the London office by about 10 per cent.POAM primarily specialises in enhanced indexation and use derivative based strategies to protect institutional investors with a high exposure to equities against market falls.POAM managing director […]

With-profits face extinction

With-profits investment products will be wiped out in a decade unless the life industry cleans up its act, according to the Faculty of Actuaries.Faculty president Fraser Low believes life assurers and pension providers must slash charges and make products easier to understand to survive.The £2.2bn a year with-profits industry is currently facing a threat from […]

Norwich and Peterborough Isa bid

Norwich and Peterborough Building Society has launched an ISA investing in corporate bonds and fixed interest securities. The monthly Income Plus Isa invests in the Monthly Income Plus Fund and is available to investors through N&P&#39s CGU tied agents. Martin Willgress, executive director of sales at N&P, said: “There are many thousands of investors who […]

BoS launches internet banking

Bank of Scotland is launching a new online banking service just days before a similar style operation is due to be unveiled by takeover target NatWest.BoS has made a £21bn hostile bid for NatWest. As part of the package BoS will offer a free internet service provider BoS

Canada Life annual IHT survey results

75% of wealthy unaware of new residence nil rate band IHT allowance Just 4% were aware the new allowance will be up to £175,000 per individual Lack of awareness of IHT rules means families risk paying a bigger bill than they need 83% think the current inheritance tax rules are far too complex A remarkable […]


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