Extraordinary Re (!Re) today announces that it will be demonstrating its platform for trading interests in insurance contracts on April 29, 2022, at 10:30 a.m. EDT. The demonstration, by invitation only, is for asset managers and asset owners. For an invitation, please contact Joe Rosen at Joe.Rosen@XReHoldings.com or +1 347 647 0530.
Extraordinary Re’s secondary trading platform will enable asset managers and asset owners to build customized portfolios of insurance contract positions just like they would with stocks and bonds. The platform opens the $20 trillion universe of insurance liabilities to direct contract-level participation by the capital markets.
The demonstration of the trading platform on April 29 is a significant next step in the evolution of insurance finance. “The new asset class of insurance contracts will be valuable to investors of all strategies,” said Lee Van Slyke, CEO of !Re. “All portfolio management strategies may benefit, from value investing to technical analysis to buy-and-hold. Among the values to the investor is the non-correlation of insurance contracts with stocks and bonds,” he said.
!Re’s patented technology is embedded in a proprietary user interface and a matching engine licensed from NASDAQ. The system is integrated into a purpose-built Bermuda reinsurance company, Extraordinary Reinsurance Company Ltd. (ERCL), to allocate ERCL’s underwriting profit and loss to the portfolios created by the trading participants. In addition, each portfolio is allocated a part of the investment income of ERCL.
“Rather than trapping capital in fully collateralized instruments, this patented plan allows long-term investors to earn investment income on premium dollars that have not been paid out in claims and expenses. Fans of Warren Buffet will appreciate this ‘premium float’,” said Van Slyke.
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