Specialist captive re/insurance MGU, International Re (I–RE), has announced a new strategic capacity partnership with Cimarron Insurance, a niche specialist admitted insurer.
The partnership will underwrite a range of admitted property and casualty lines of business, rolling out over the next 12 months.
Cimarron specialises in providing individual business owners, owner operators and other small business owners with insurance, risk management and risk financing solutions.
Andy Jeckells, co-CEO of I–RE said: “We are excited to launch our partnership with Cimarron, the first of a number of strategic partnerships with insurers that we expect to roll out through 2021.
“I–RE’s high-performing mid-market clientele deserve to underwrite their own commercial property and casualty insurance, whilst retaining profits, just as big corporations can, and partnership with Cimarron delivers the high-quality admitted capacity they need to do that.
“I’m looking forward to working closely with the Cimarron team and extending the reach of RE–PAID to our clients.”
Paul Halter CEO, Cimarron said: “Working together, I–RE and Cimarron are eliminating the barriers that stand in the way of mid-market companies underwriting admitted commercial property and casualty insurance policies in the stand-alone and independent cell captives they own.”
This partnership comes after the company appointed Nate Reznicek as head of US distribution earlier this month.