Bermuda-based reinsurance broker ReFlex Solutions launches
Industry veteran Neville Ching has launched ReFlex Solutions Ltd, an independent reinsurance brokerage with operations in Bermuda and plans for expansion into London and the USA.
Ching, CEO and Founder of ReFlex, commented, “ReFlex has been a year in the workshop, and I am delighted to be opening this new venture.
“In this hard market, there are opportunities for a new type of brokerage that has technology at its core combined with deep broking knowledge and expertise.”
He continued, “Many young brokers were simply out of their depth in what has been the most challenging renewal period seen in over a decade.
“Some traders had no experience of operating in volatile market conditions and did not know where to get capacity or coverage during tough negotiations.
“Our brokerage will bridge that knowledge gap and find effective solutions for buyers of reinsurance looking for coverage. Normally it is a London brokerage that sets up a subsidiary in Bermuda. This will be a Bermuda broker, which will also set up in London.”
ReFlex was incorporated in Bermuda in 2022 but officially launched this month. Collectively, Ching holds over four decades of industry experience.
The firm has the backing of eight private investors which includes a blend of recognised leaders in the technology, insurance, reinsurance, legacy, reinsurance underwriting, investment and life insurance sectors.
In addition to traditional market solutions, ReFlex has access to non-traditional capacity and solutions through Jireh Risk Advisors.
Established by well-known Bermuda ILS market executive Sal Tucci earlier this year, Jireh provides risk transformation and advisory services on behalf of investors seeking to provide capacity for re/insurance risk.
Tucci, Founder and CEO of Jireh, said, “Efficient technology has to be at the core of any modern service provider. ReFlex and Jireh share a common core thesis of combining experienced market practitioners alongside innovative technology to better serve clients with elevated service, capability and standards.
“Our respective businesses, while distinct and separate, are complementary and will collaborate to provide ReFlex clients with superior service and solutions.”
Ching concluded that ReFlex is fully operational, noting that the “Very active Q1 2023 is both encouraging and humbling as it underscores the value clients see in our approach.
“ReFlex seeks to attract best-in-class talent and build a corporate culture based on fairness, honesty, and integrity.”
