US Re licences CATEX system

US Re is set to implement the Catastrophe Risk Exchange’s (CATEX) pivot point transaction system worldwide across its reinsurance brokerage operation.

Full system deployment is expected by the end of October, following Pivot Point training which is set to begin later in September.

Marc Piccione, US Re senior vice president, said: "We have always put top priority on providing clients with the best analytics and service capabilities available, and our partnering with CATEX is a perfect fit with that mindset. Our clients will enjoy an even higher level of efficient transaction processing and immediate access to important client data on a 24/7 basis."

Frank Fortunato, CATEX chief executive officer, said:  "We look forward to working with the US RE team, many of whom we have known for 20 years. We are in the process of beginning training and implementation in the US and are being introduced to their overseas partners."