Re/insurance service provider Xceedance has announced the launch of its life insurance and reinsurance practice, headquartered in its newly established office in Liechtenstein.
Xceedance’s new Liechtenstein office has been established to serve life insurance and reinsurance markets and will be jointly led by Markus Brugger and Mark Lucas.
The new practice will have a focus on partnering with existing and startup life insurers and reinsurers and also InsurTech providers, offering a range a services including interim management, strategic consulting, product development, actuarial services, sales strategy consulting, Solvency II Pillar 1-2 support, reinsurance optimisation, and also legacy transformation.
The Chief Executive Officer (CEO) of Xceedance, Arun Balakrishnan, said: “Liechtenstein is a significant financial services hub, including for worldwide life re/insurers, and our rapidly growing company is especially skilled in supporting the full range of insurance operations, as we help our global clients gain new business, grow revenues and minimise expenses. We are excited to locate an office in Liechtenstein and expand opportunities for direct interaction with diverse life re/insurance organisations, both in the EMEA region and worldwide.”
Leading the life insurance side of the new practice is Brugger, who brings 30 years of life re/insurance industry experience to the role. Between 2012 and 2014 he served as President of the Liechtenstein Insurance Association, and has previously held senior roles with Cologne Re and PartnerRe, and served as the CEO of PrismaLife and Liechtenstein Life for 17 years. Most recently, he led the insurance advisory practice at Grant Thornton Liechtenstein/Switzerland.
Commenting on his new role, Brugger said: “Liechtenstein is a well-established global insurance marketplace, and Xceedance can help and support life re/insurers worldwide to strengthen their operations and enter new markets.”
Lucas most recently served as general manager at JLT Re in Switzerland and brings 35 years of industry experience to the role, having previously worked at Guy Carpenter in Denmark and U.S. Re in Switzerland. Throughout his career in the sector he has developed a number of new reinsurance solutions.
“We are excited to join a dynamic company such as Xceedance and look forward to building the company’s life re/insurance consulting and technology services to assist the industry in addressing pressing challenges and diverse market opportunities,” said Lucas.