Transamerica Reinsurance, the second-largest life reinsurer in the
US in terms of new business assumed in 2006 and a significant
player in Latin America and Asia, has set its sights on replicating
its success in the European market, which it entered in late 2006.
“This has been an important year of building our European base,
introducing companies to our value-added business model and
developing relationships,” said Christian Mounis, president of the
reinsurers’ European unit, Transamerica Reinsurance Europe
Headquartered in Paris, TRE also has a presence in Spain via a
recently opened representative office in Madrid. TRE’s business
will be underwritten by Transamerica Reinsurance’s parent company,
Transamerica Occidental Life Insurance, a unit of Netherlands
insurer AEGON, and Transamerica International Reinsurance Ireland,
a Dublin-based affiliate formed in 2002.
Expanding on TRE’s approach, Mounis said life reinsurers that offer
more than just traditional risk transfer services are finding
opportunities to partner with European insurance companies. “We are
seeing an increasing demand for individual credit life products and
products that feature segmented pricing as a way to attract more
favourable risks,” said Mounis. He added that life insurers in the
main European markets are also interested in expanding distribution
capabilities through direct marketing and telemarketing.
“By combining reinsurance with value-added services such as product
development and alternative distribution relationships, we can help
clients enter new markets quickly with products that are
competitive and profitable,” said Mounis.