WORCESTER, Mass. and NEW YORK, Aug. 02, 2022 (GLOBE NEWSWIRE) -- Xceedance today announced that Extraordinary Re will adopt actuarial and analytics services from Xceedance to support disciplined underwriting and furnish ongoing, market-relevant information in support of Extraordinary Re’s insurance contracts platform.
Extraordinary Re recognized the need to develop strong actuarial models for the risks the company covers. With significant experience in the global reinsurance market, extensive reinsurance actuarial support capabilities, and access to a network of technology vendors and solutions, the actuarial team at Xceedance is well positioned to comprehensively address the needs of Extraordinary Re.
"We sought an industry-experienced partner with a solid understanding of reinsurance to provide actuarial models of reinsurance submissions," said Lee Van Slyke, chairman and CEO at Extraordinary Re. “Xceedance provides an in-depth understanding of financial risk modeling and reinsurance-specific actuarial support, as well as expertise in organizing big data — making it an easy choice for us.”
“The Xceedance Actuarial and Analytics team is thrilled to work with Extraordinary Re on a distinctive solution for its objectives,” said Matthew Duke, SVP and chief actuary at Xceedance. "The opportunity to partner with Extraordinary Re on unique and productive actuarial capabilities is gratifying. We are well positioned for success, as our global team of credentialed actuaries brings a deep understanding of the reinsurance marketplace and our strategic relationships with innovative technology companies provide beneficial support for reinsurers.”
For more information on the capital market benefits of Extraordinary Re insurance-linked securities, please visit extraordinaryre.com. To see the full range of Xceedance actuarial and analytics services visit xceedance.com/actuarial.
About Extraordinary Re
Extraordinary Re (!Re) is a platform for the daily trading of $22 trillion worth of insurance liabilities embedded in a Bermuda domiciled licensed reinsurer. The company offers solutions for traders and institutional investors, along with insurance companies and intermediaries.
About Xceedance
Xceedance provides strategic operations support, technology, and data services to drive efficiencies for insurance organizations worldwide. The company helps insurers launch products, implement intelligent technology, deploy advanced analytics, and achieve business process optimization. For more information, visit www.xceedance.com.
Media Contacts:
Amy Littleton (for Extraordinary Re)
Company: Kemper Lesnik
Email: amy.littleton@kemperlesnik.com
Jennifer Overhulse (for Xceedance)
Company: St. Nick Media
Telephone: +1 859.803.6597
Email: jen@stnickmedia.com
