24 July 2020Insurance

Munich Re-backed risk carrier Gossmann & Cie gains Maltese licence

Gossmann & Cie, a liability insurance management company backed by reinsurance partner Munich Re, has received the licence to operate its risk carrier, a digital-powered protected cell company (PCC) based in Malta.

The new insurance carrier, called Gossmann & Cie Insurance PCC, is authorised by the Maltese Regulator (MFSA) under the Insurance Business Act (Cap 403) to carry on business of insurance.

The carrier is fully operational and able to create customised cell-based solutions as well as manage the relevant insurance portfolios transferred to Gossmann & Cie. with immediate effect.

The company's board has appointed Joanna Aquilina as chief executive officer (CEO) of the PCC.

Headquartered in Hamburg, Gossmann & Cie. offers data-intuitive solutions for the management of insurance risk-related liabilities. The liability specialist supports financial institutions, insurers, intermediaries, and institutional investors by structuring, managing, and assuming risks and/or entities with the aim to refine their portfolios and to optimise their capital base. Together with Munich Re, the carrier offers a solution to liberate capital by extracting expiring policies from active underwriting portfolios (ExPRO).

Arndt Gossmann, founder of Gossmann & Cie, said: “With our risk carrier now licensed and open for business, we are fully operational and ready to close first transactions. The timing is perfect as interest in ongoing portfolio refinement combined with disposal of legacy and non-core insurance businesses and portfolios, has risen noticeably among European non-life insurers in the current COVID-19 related conditions, which further strain regulatory capital ratios and accentuate balance sheet volatility.”

Gossmann added: "We understand the mounting interest of insurers to preserve and bolster capital levels, reduce volatility and safeguard against any additional financial uncertainties to the extent possible. Mitigating exposures and refining portfolios is more important now than it has ever been. Digital analytics and customised cell-based structures can offer greater speed and solution flexibility in times like these.”

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Insurance
21 September 2020   The partnership seeks to address data gaps in traditional coverage using analytics and artificial intelligence.
Insurance
24 August 2020   The start-up will focus on run-off opportunities in Continental Europe, the UK and Lloyd’s of London.
Insurance
24 June 2020   The reinsurer has restated that it will not issue a new profit guidance for 2020.