CHARLESTOWN, NEVIS, February 22, 2017
SKY RE Facultative and Treaty Ltd. (SKY RE) announced today that it has been acquired by Switzerland based Russian Insurance Group SA.
Founded in 2015, RIG states on its website that, “RIG is participating in other companies in insurance niche with a mission to deliver the best of the Russian insurance services.”
In addition to SKY RE in the West Indies, RIG also has companies in Cyprus (RIGV&I Ltd) and Russia (Selecta Insurance & Reinsurance Company Limited).
Russian Insurance Group logo
Kirill Patyrykin, the Managing Director noted that, “This is an important hub into the Overseas market utilizing our efforts to get the best taxation and regulatory terms which will ultimately help us to offer lower rates and higher deductions.”
“SKY RE will be renamed SELECTA Insurance and Reinsurance Company (Caribbean) Limited. The Company will also get a significant capital injection which will go a long way to assist with the General Insurance license and acquiring the A.M. Best rating.”
SKY RE Facultative and Treaty Ltd (www.sky.re) is an internationally oriented Reinsurer with the policies backed by the exceptional financial strength and solid claims-paying ability of our capital providers. With a global presence, our team collaborates to deliver exceptional service to our clients across the world. Our broad reinsurance underwriting capabilities include property, catastrophe, casualty, professional lines, and specialty lines including trade credit, surety, global weather, aviation and space, marine and energy, agriculture and personal accident.
SELECTA Insurance and Reinsurance Company (Caribbean) Limited (www.selecta.re) will continue SKY RE’s efforts to establish long lasting partnership with the clients significantly improved by RIG’s capital backup and vast experience of sales, underwriting and claim management teams. Added to the very impressive reinsurance product, SELECTA Insurance and Reinsurance Company (Caribbean) Limited will offer an equally impressive general insurance products with coverages in lines such as property, casualty, marine, aviation and financial guarantee.
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