DALLAS, TEXAS--(Marketwired - Jul 30, 2014) - Optimum Re Insurance Company is pleased to announce the conclusion of an agreement with Munich American Reassurance Company to acquire a reinsurance portfolio of 115 client insurers. This transaction, involving 270 treaties and close to 55,000 reinsurance cessions, will contribute to Optimum Re Insurance Company's development and strengthen its position in the traditional small to mid-size American insurance companies market. The transaction was effective as of July 1st, 2014.
"This development is in line with the strategy we have established for our company over the past few years, which involves the ongoing expansion of our business by acquiring reinsurance portfolios in the United States" said Sebastien Blondeau, President and Chief Operating Officer at Optimum Re Insurance Company.
"Since July 1st, our team has been contacting the new clientele to provide information about this acquisition. Our aim is to provide the best possible service to our clients, who can count on our competency and determination to meet the highest standards" added Mr. Blondeau.
About Optimum Re Insurance Company
Member of the Optimum Group, Optimum Re Insurance Company has been active for over 25 years in the individual life reinsurance industry in the United States. The company has shown significant growth over the last few years while maintaining a healthy financial position and has earned a top-ranking reputation for its excellence in client service.
About Optimum Group Inc.
Founded in 1969 by actuaries, Optimum Group is a private international financial group active in life insurance, property and casualty insurance, life reinsurance, actuarial consulting and asset management. Optimum Group, which has reached $6.7 Billion of assets under management operates mainly in Canada, the US and France. More than 500 employees worldwide contribute to its success.