USA Risk launches Malta's first special purpose vehicle for collateralized reinsurance

Captive manager USA Risk Group Inc. has launched Exchange Re, Malta's first reinsurance special purpose vehicle for collateralized reinsurance transactions, reported Artemis.bm.

Exchange Re said that it is the first "insurance-linked securities platform in Malta for private collateralized reinsurance transactions organized as a securitization cell company." John Tortell, vice president at USA Risk Group, said that Exchange Re is "open to business with all insurance managers, brokers and arrangers in the market."

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