NEW YORK, Aug. 29, 2018 /PRNewswire/ -- TransRe has
acquired the exclusive renewal quotation rights to all of Maiden
Re's U.S. treaty customers from their diversified business (which
does not include reinsurance assumed from AmTrust) and has hired
the U.S. treaty team from Maiden Re.. TransRe will immediately
offer renewal quotations on this treaty book of business, which is
focused on regional property and casualty, accident and health and
personal auto insurers. These are markets in which TransRe has
demonstrated leadership and a proven underwriting track record.
To ensure a successful transition for customers and brokers,
Tom Highet, previously President of
Maiden Reinsurance North America, and a team of underwriters,
actuaries and claims personnel will join TransRe and operate from
new offices in Mt Laurel, New
Jersey. Mr. Highet, who was with Maiden Re (previously GMAC
Re) for thirty years, has been appointed Executive Vice President
and will report to Ken Brandt,
President of TransRe North America.
Ken Brandt commented "We are
delighted to welcome Maiden's accomplished team and believe the
move to be an excellent strategic and cultural fit for customers
and us. During the past 30 years Tom and his team have built a
strong and respected franchise, with excellent customer and broker
relationships. We know these lines of business well, and together
with our new colleagues we are well positioned to serve the needs
of all our customers and brokers."
Tom Highet said "We believe that
TransRe offers our customers an ideal fit for continuity of
approach, appetite and service going forward. With TransRe's A+
balance sheet, additional product range and great underwriting
culture, we look forward to maintaining and strengthening our
customer and broker relationships."
About TransRe
TransRe is the brand name for Transatlantic Holdings, Inc. and
its subsidiaries (including Transatlantic Reinsurance Company).
TransRe, wholly owned by Alleghany Corporation (NYSE-Y), is a
reinsurance organization headquartered in New York with operations worldwide. Since
1977, TransRe has offered its clients the capacity, expertise and
creativity necessary to structure programs across the full spectrum
of property and casualty risks. Visit www.transre.com for
additional information.
About Maiden Re
Maiden Reinsurance North America (Maiden Re) is a subsidiary of
Maiden Holdings, Ltd., a Bermuda-based holding company formed in 2007.
Maiden Re is focused on providing non-catastrophic, customized
reinsurance products and services to small and mid-size insurance
companies in the United
States.
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SOURCE TransRe