Tremor Completes Historic Reinsurance Auction

GREENWICH, Conn. (PRWEB) December 19, 2018

Tremor Technologies, Inc., a programmatic risk transfer platform, has successfully priced and placed a significant, large panel property catastrophe program for a top 20 U.S. property and casualty insurance company.

Nearly 50 reinsurers from the traditional U.S., Bermuda, Lloyd's, EU and APAC markets, along with several alternative capital markets participated in the auction bidding nearly $700 million of capacity across a multiple layer reinsurance tower.

The program was priced and placed successfully and the technology performed exceptionally well.

"We are thrilled with the success of our first large panel property catastrophe reinsurance placement. It was a true team effort including a highly innovative reinsurance buyer, a technically savvy reinsurance broker and the majority of the reinsurance industry adopting our technology to make the first truly programmatically priced and placed property catastrophe program a success," said Sean Bourgeois, founder and CEO of Tremor.

Tremor is planning further auctions in 2019 with commitments from additional reinsurance buyers in place. With over 60 reinsurers representing nearly $350 billion in capital signed-up and trained to bid, Tremor is extremely well positioned to execute further transactions to become the world's leading programmatic risk transfer platform.

Tremor's mission is to build the world's leading marketplace to transfer risk efficiently to those best able to bear it. Current reinsurance market structure and inefficiencies in the placement pricing process are keeping risk from being transferred efficiently. Tremor targets these inefficiencies by utilizing batch auctions that match risk and capital. Tremor's programmatic platform improves pricing and allocation of risk in a fraction of the time and cost of traditional markets.

With Tremor, risk holders and capital holders can express rich sets of transaction parameter preferences with price flexibility on protected quantities. Sophisticated optimization techniques match risk to capital, maximizing gains from trade for all participants. Tremor matches risk holders with the best protection for liabilities, and capital holders with the best risks for the portfolios they are building.

About Tremor
Tremor improves the way wholesale risk and reinsurance is sold and bought. The company's programmatic platform better matches risk and capital, improving pricing and allocation of risk in a fraction of the time and cost of traditional markets. Tremor utilizes state-of-the-art auction technologies and optimization techniques to maximize gains from trade for all participants. Tremor is venture-backed and based in Greenwich, CT. Learn more at http://www.tremor.co.

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