The Catastrophe Risk Exchange International Inc. (CATEX), a provider of web-based trading and back-office services to the international insurance and reinsurance market, announced that JLT Risk Solutions (Bermuda) Ltd., a member of the Jardine Lloyd Thompson Group plc, has agreed to subscribe to a CATEX-developed, web-based Insurance Transaction Service based on the CATEX proprietary Pivot Point Technology.
“CATEX and JLT Risk Solutions (Bermuda) Ltd. will be working over the next several weeks to implement customized enhancements for use by JLT,” said the announcement. “The parties expect that the system will be fully implemented during the summer 2005.”
CATEX described the Pivot Point Service as, “a completely web- based insurance and reinsurance management system,” which is “the company’s flagship service. A significant percentage of the top reinsurance intermediaries in the world have subscribed to the Pivot Point Service. Over 100 different syndicates, insurers, reinsurers and brokers conduct business on Pivot Point daily.”
JLT Risk Solutions (Bermuda) Ltd. is a wholly owned subsidiary of the Jardine Lloyd Thompson Group plc, which operates in 30 countries, employing more than 5,000 people.
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