Through the partnership, Vesttoo aims to leverage Clear Blue's program management, underwriting, data and analytical capabilities to enable more efficient and fast reinsurance transactions
Vesttoo has signed a partnership agreement Clear Blue for a deal worth $1bn (Credit: Gerd Altmann from Pixabay)
Insurance risk transfer platform Vesttoo has entered into a partnership with the US-based property and casualty insurance firm Clear Blue to provide the latter with reinsurance capacity sourced from capital markets investors, worth $1bn.
The capacity is expected to be sourced from the capital markets through a diverse range of insurance-linked assets.
Through the partnership, Vesttoo aims to leverage Clear Blue’s programme management, underwriting, data and analytical capabilities to enable more efficient and fast reinsurance transactions.
Further, it is anticipated to allow more investors to access a diverse portfolio of Clear Blue’s P&C risk on an effectively collateralized basis.
Vesttoo chief financial engineer and co-founder Alon Lifshitz said: “Clear Blue are as data-driven as we are, and together we can grow the pot efficiently.”
“We will use Clear Blue’s data in our models to help structure transactions with much faster time to market, all the while maintaining transparency which is critical to investors, leading to greater participation in the insurance-linked investment market.”
The alliance forms part of Vesttoo’s vision to bring together the insurance and capital markets maximising the insurance-linked investments.
Clear Blue Insurance president and CEO Jerome Breslin said: “We’ve been working with Vesttoo for years, and their methodology has proven itself time and again. Their data-driven process is able to radically speed up the reinsurance process, allowing us to provide insurers with the capacity they need to thrive.”
With its AI-powered technology, Vesttoo is said to provide price, model, and structure flexible solutions for a wide range of business lines.