Axco launches regulatory information service

Axco Insurance Information Services has launched Insight Re, its first service to focus exclusively on the global reinsurance regulatory environment.

Insight Re provides the regulatory and legislative information necessary to help reinsurers achieve global compliance and ensure the correct payment of local taxes and charges.

Axco has stated that the service has been developed in response to a “growing demand” for reinsurance specific data, users can view concise answers to all the key regulatory issues in reinsurance markets around the world.

The tool provides information for 50 territories and is primarily designed to respond to the challenges of high growth markets, as well as key Asia-Pacific and South American territories.

Insight Re is designed to respond to the way in which reinsurance professionals work, according to Axco, as information can be annotated, branded and configured specific to the needs of each individual user. The service will expand over time to reflect the needs of reinsurance professionals working in close conjunction with Axco.

Axco managing director Tim Yeates said: “As the reinsurance market becomes even more global, so do the regulatory complexities and pit falls facing it. Insight Re is Axco’s response to helping reinsurers maintain compliance. Insight Re monitors mandatory local retentions, cessions and taxes, details restrictions on open market practice and on the selection of individual reinsurers.”