SRS Altitude, an MGU for ART / parametric solutions, teams with Generali GC&C

SRS Altitude, a managing general underwriter (MGU) based in Europe and part of Strategic Risk Solutions, Inc., has announced a partnership with Generali Global Corporate & Commercial, providing access to insurance and reinsurance capital, as well as a global footprint and technical expertise.

SRS Altitude was launched last year as a Zurich-headquartered MGU through which SRS would offer a range of alternative risk transfer solutions, including structured insurance or reinsurance and parametric risk transfer.

The newly announced strategic partnership with Generali Global Corporate & Commercial (Generali GC&C) will enable SRS Altitude to tap into the dedicated insurance and reinsurance capacity of the European giant, while also benefiting from its global reach and technical excellence.

The goal is to work together to originate, tailor, and provide a diverse range of ART solutions to corporate clients and their captives, SRS explained.

“Our combined strengths allow us to deliver supreme expertise and capital to clients, catering to their unique needs,” explained Loredana Mazzoleni Neglén, CEO of SRS Altitude. “This collaboration empowers SRS Altitude’s commitment to innovation and excellence in the field of Alternative Risk Transfer.”

“Partnering with SRS Altitude presents a significant long-term opportunity to leverage our global expertise and best in class services for our clients,” added Christian Kanu, Generali Global Corporate & Commercial CEO. “We look forward to working together with SRS Altitude to deliver cutting-edge ART products to a wider client audience.”

The partnership is a further signal of the appetite large global insurance group Generali has for parametric risk transfer and alternative risk transfer.

Remember that Generali established a partnership with parametric specialist Descartes Underwriting in 2020, as the pair looked to develop new parametric insurance solutions to actively respond to an evolving global risk landscape.

As we reported in 2023 as well, Generali has also formalised the structure of a Parametrics practice within its Global Corporate & Commercial (GC&C) arm.

This partnership with SRS Altitude provides another route for Generali GC&C to express its appetite and expertise in parametrics, while also giving it an entry point to the structured solutions marketplace.

Generali GC&C said, “Thanks to the strategic partnership with SRS Altitude, Europe’s first Managing General Underwriter specialised in Alternative Risk Transfer (ART), Generali GC&C is entering the Structured (Re)insurance solutions segment within the ART market.

“This partnership will enhance the ART & Captive offerings within GC&C.”