Online reinsurance marketplace Tremor Technologies has attracted former PartnerRe president and chief executive officer Emmanuel Clarke.
He has joined the board of the Boston-based company.
Mr Clarke worked for Bermudian-based PartnerRe for more than 25 years. He left the company last year.
Tremor said the vast majority of reinsurance capital has signed up to its marketplace from all major reinsurance markets of the world including the US, continental Europe, the London market including Lloyd’s, Bermuda along with leading companies from the Asia-Pacific region. The company has completed 15 placements to date and has priced more than $2 billion of reinsurance limit for a number of cedants.
The company has launched Tremor Panorama, its next generation marketplace, that is said allows clients to see the entire market of competitive quotations before they bind capacity at their chosen price while allowing reinsurers to quote with specific preferences.
Along with providing strategic counsel to the firm, Mr Clarke is to help Tremor accelerate its growth with ceding companies.
He said: “I have always been impressed by Tremor and its products and today I am very excited to join Tremor’s board and contribute to its growth acceleration. I am convinced Tremor represents the future evolution of reinsurance purchasing, where buyers make most informed decisions based on transparent, comprehensive information.
“Tremor’s platform brings value to the whole reinsurance placement process – including buyers, brokers and reinsurers, by generating best outcomes through data and expertise, optimised execution and greater efficiency.”
Sean Bourgeois, founder and CEO of Tremor, said: “This is an exciting moment for Tremor, with the recent roll-out of Panorama, an enhancement that enables our customers to make best placement decisions based on comprehensive market data and feedback, with the growth in new clients combined with repeat customers, and now with Emmanuel joining our board.
“It will be a great privilege to work side by side with such a senior figure from the reinsurance industry as we work to accelerate Tremor’s adoption in the marketplace over the coming years.”
Mr Clarke is also chairman of the board of French insurance company Wakam.