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3.19.02
Wellington Underwriting Inc. Signs Agreement to Participate in eReinsure.com™'s Web-Based Reinsurance Platform
Using Advanced Technology to Enhance Client Service and Process Efficiency
NEW YORK, March 19, 2002 - eReinsure.com, Inc., a provider of e-commerce technology to the insurance and reinsurance industries, today announced that Wellington Underwriting Inc., the wholly owned subsidiary of Wellington Underwriting plc, one of the leading Lloyd's-based specialist insurance organizations and a market leader in the international insurance and reinsurance market, will conduct reinsurance transactions on eReinsure's online trading platform.
Stan Kott, Wellington Underwriting Inc.'s Chief Executive Officer, said, "The eReinsure platform provides significant client service advantages, enhancing our ability to quickly respond to our clients' submissions. We see eReinsure and its technological advancements as a major step forward for those of us who want to benefit from e-commerce without restricting our ability to negotiate appropriate reinsurance solutions for all classes of business."
The eReinsure platform provides a secure, neutral forum for online trading partners throughout the entire reinsurance negotiating process, from establishing terms of agreement to reviewing and managing reinsurance placement information. This results in efficient information sharing, cost savings and seamless processing, among other benefits.
"Wellington is highly regarded in the global reinsurance marketplace for its client service and reinsurance solutions," Igor Best-Devereux, Chief Executive Officer of eReinsure, said. "We are delighted that they will use our Internet-based system to offer the benefits of this technology to their clients."
About Wellington Underwriting Inc.
Wellington Underwriting Inc., the US managing general agent, is a wholly owned subsidiary of Wellington Underwriting plc and underwrites business on behalf of Wellington Syndicate 2020 at Lloyd's. The company has its Head Office in Hartford, Connecticut and provides facultative reinsurance to US clients via a network of six offices throughout the US.
About eReinsure
eReinsure, Inc. (www.ereinsure.com) develops Internet technologies for reinsurance negotiation, documentation, recoveries and other functions that support online trading and is positioned to be a leading provider of e-commerce technology in the insurance and reinsurance marketplace. The company is located in New York and London, and has a technology development center in Salt Lake City, Utah.
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Contact for eReinsure:
Paul Del Colle
Miller DeMartine Group
(203) 221-2790
pdelcolle@mdgpr.com