29 Sep, 2021, 08:00 ET
PEMBROKE, Bermuda, Sept. 29, 2021 /PRNewswire/ -- Somerset Reinsurance Ltd. (Somerset), a leading global life and annuity reinsurer, today announced that ceding companies ranked Somerset #1 in the Business Capability Index (BCI), as measured by NMG Consulting's 2021 US Structured Financial Solutions study in the Portfolio Transfer Segment.
The NMG Study's BCI scores measure reinsurer effectiveness, by aggregating insurer feedback across five key capability areas. NMG's bi-annual Study incorporates the expert perspectives from insurance executives and reinsurance buyers. It is recognized as the definitive benchmark of reinsurer performance by the industry. The Study also provides valuable insights into market trends and is used by reinsurers to develop strategies to address the key business issues facing their customers. Somerset's overall BCI score has led the market in each of the last two studies.
"The NMG US Structured Financial Solutions Study is an important tool for us to ensure that we are focused on delivering the customized risk management solutions that help our clients succeed", said Jeff Burt, Chairman and CEO of Somerset Re. "The NMG Study feedback is an important driver in how we adapt to business challenges impacting our clients. We're delighted by this confirmation, directly from our clients, that we are delivering on our promises. It is an affirmation of our developing brand and our unique position in the market."
About Somerset Reinsurance Ltd.
Somerset is a leading provider of reinsurance solutions for asset intensive life insurance and annuity business, helping its clients manage capital efficiency and improve their financial results. Somerset Re solutions include programs for new business flow and management of legacy blocks of life insurance and annuities.
For more information about Somerset Re, please visit www.SomersetRe.com.
About NMG Consulting
NMG Consulting is a leading global consultancy focused on the insurance, reinsurance, financial solutions, retirement/wealth and asset management markets. NMG Consulting integrates specialist consulting experience and proprietary insights to help clients shape strategy, implement change, and enhance performance.
SOURCE Somerset Reinsurance Ltd.
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