Strategic Risk Solutions (SRS), a provider of insurance management and consulting services, has announced the acquisition of Global Re SCC, a Barbados-registered Segregated Cell Company (SCC).
Established in 2004 under the Companies Act of Barbados with a Class 1 license, Global Re SCC engages in both general insurance business and long-term insurance, including ordinary life insurance.
Global Re SCC joins other cell facilities offered by SRS in Bermuda, Cayman, Guernsey, North Carolina, and Vermont.
“Our acquisition of Global Re SCC represents the addition of yet another solution for SRS’s rent-a-captive clients as well as for capital market investors looking to participate in re/insurance programs,” said SRS Barbados Managing Director Kirk Cyrus.
“The hardening commercial market has stimulated an interest in alternative risk solutions, and this deal furthers our Barbados and groupwide objective of providing every available tool to our clients to have a strong negotiating position within the market.”
Cyrus will be responsible for overseeing the integration of Global Re SCC into the SRS operations.