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Assetinsure is a Specialist Insurer. This profile includes the following aspects in particular:
- Assetinsure only offers a select number of product lines i.e. focusing on companies, financial institutions, and professionals to protect their professional liabilities, assets and some of their credit risks;
- Assetinsure employs staff with ample experience in the direct insurance market who can assess and underwrite risks appropriately. They have displayed a disciplined approach to business as they have seen more than one market cycle;
- The company has expanded steadily its business and product range (see Services). Depending on the product offered, the distribution is exclusively with either insurance brokers, underwriting agents or financial institutions. Whilst this generates overall diversification of distribution, this approach effectively avoids channel conflicts for a single product.
Assetinsure entered the Australian market by purchasing all the shares of Gerling Global Reinsurance Company (GGRA) from the Gerling Group effective 1.9.2003. After about twenty years, the company had ceased writing reinsurance business in 2002. Assetinsure continues to handle all existing liabilities from the reinsurance business in a professional and responsible manner.
This acquisition gave us a solid platform to launch our Australian business, avoiding the cost outlays of a ‘greenfield’ operation that would have taken years to recover.
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