USA Risk has launched the first Malta reinsurance special purpose vehicle (RSPV).
Exchange Re is the first securitisation cell company (SCC) in Malta to be set up as an RSPV.
Exchange Re will be managed by USA Risk's Malta office, but will be an open architecture system allowing third part insurance managers to manage their own cells for clients within the SCC.
Clients are expected to come from multiple sources, including European insurers, captives and corporates. USA Risk looks forward to leading the way with RSPVs in Malta, according to Jennifer Hawkins, vice president, USA Risk.
USA Risk, Exchange Re, Reinsurance special purpose vehicle, Captive insurance, Reinsurance RSPV, Jennifer Hawkins, Malta, Europe