MGA launches middle-market captive reinsurer

Rupert Taylor, left, and Andy Jeckells

International Re Ltd., a London-based managing general agent, on Tuesday launched a captive reinsurer that offers coverage for midsize captives.

I-RE, which was founded earlier this year by Rupert Taylor, co-CEO and chief underwriting officer, and Andy Jeckells, co-CEO and chief commercial officer, will offer coverage through Bermuda-based R&Q Quest Ltd. for and on behalf of International Re Segregated Account, which operates at I-RE SA.

Initially, I-RE’s “focus will be on U.S. business, but I–RE sees significant opportunities to rapidly expand both geographically and in product suite,” the MGA said in a statement.

The MGA has completed several transactions with U.S.-based captives, the statement said.