General Insurance Article - Axco launches regulatory information service for reinsurers

Axco Insurance Information Services Ltd (Axco) has today launched ‘Insight Re’, its first service to focus exclusively on the global reinsurance regulatory environment. As international reinsurance regulation becomes increasingly complex, ‘Insight Re’ provides the regulatory and legislative information necessary to help reinsurers achieve global compliance and ensure the correct payment of local taxes and charges.

 Developed in response to a growing demand for such reinsurance specific data, users can view concise answers to all the key regulatory issues in reinsurance markets around the world. The tool provides information for 50 territories and is primarily designed to respond to the challenges of high growth markets such as the BRIC[1] and CIVET[2] countries, as well as key Asia-Pacific and South American territories. 
 ‘Insight Re’s’ flexible platform is designed to respond to the way in which reinsurance professionals work; information can be annotated, branded and configured specific to the needs of each individual user.
 The service will expand over time to reflect the needs of reinsurance professionals working in close conjunction with Axco.
 Axco Managing Director Tim Yeates said:
 “As the reinsurance market becomes even more global, so do the regulatory complexities and pit falls facing it. ‘Insight Re’ is Axco’s response to helping reinsurers maintain compliance.
 “‘Insight Re’ monitors mandatory local retentions, cessions and taxes, details restrictions on open market practice and on the selection of individual reinsurers.”

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