Business Services Industry
Updates; Benfield offers online reinsurance placement.(World)(company sales and earnings for QBE Insurance Group Ltd)(Austin L.L.P opens another office at London)
Business Insurance, February, 2006
Broker Benfield Group Ltd. has launched a Web-based platform to help place facultative reinsurance programs that include large catastrophe exposures. The platform, eCatFac, allows cedents to receive quotes online and negotiate pricing and coverage terms. The system has been developed by Salt Lake City-based eReinsure, which produces Internet-based technology for the reinsurance market.
Grahame Chilton, chief executive of London-based Benfield, said in a statement that the system will enable the broker to "enhance our efficiency in quoting and placing facultative catastrophe covers and, at the same time, ensure contract certainty for our customers around the world.'' QBE reports increase in profits, premiums Sydney, Australia-based insurer QBE Insurance Group...
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