Partnership enables Relm to record US digital asset risks on AM’s top-rated paper
HAMILTON, Bermuda January 30, 2023—(BUSINESS WIRE)–Specialist insurer Relm Insurance Ltd. (“Relm”) today announces the expansion of its strategic fronting partnership with Trisura Specialty Insurance Company (“Trisura”), enabling the Bermuda-based carrier to provide capacity to support AM-best-rated paper for digital asset risks in USA.
Trisura, rated A- by AM Best, is a leading international specialist insurance provider operating in the surety, risk solutions, corporate insurance, fronting and reinsurance market segments. The full agreement with Trisura will span Relm’s book, enabling the operator to provide the US digital asset business with a range of financial and professional lines and specialty coverage solutions (including D&O, Cyber, Tech E&O, Crime and others) on AM Best rated paper . Howden Broking Group will serve as reinsurance broker.
Relm is licensed and regulated by the Bermuda Monetary Authority and holds an “A, Outstanding” financial stability rating from Demotech, Inc., a Nationally Recognized Statistical Rating Organization (NRSRO) serving the insurance industry. Launched in 2019 to address the shortage of insurance capacity available to emerging industries, Relm is a market-leading provider of insurance solutions for the global digital asset space.
“We are excited to partner with Trisura – one of the most trusted names in insurance – to enhance our underwriting capacity and expand our product offerings in the US,” said Drew Taylor, Vice President of Financial and Professional Lines at Relm. “The ability to offer AM’s top-rated paper is a milestone for Relm and will allow us to continue to provide outstanding solutions for our broker partners and policyholders.”
“Our flagship partnership with Trisura presents a solution to one of Relm’s most important goals: accessibility,” said Joe Ziolkowski, CEO and co-founder of Relm. “Partnering with Trisura will make it easier than ever for policyholders to access our capabilities as we continue to build our team, serve our broker partners, develop first-to-market products, all in support of our mission to provide sustainability of innovation.’
“We are excited to expand our partnership with Relm,” said Michael Beasley, President and CEO of Trisura. “Relm has demonstrated the ability to manage a rapidly growing portfolio of digital asset risks. We are constantly looking to partner with top-tier operators, and Relm’s track record during a period of unprecedented turbulence in the digital asset ecosystem is a testament to its strong underwriting discipline and technical expertise.”
In addition to the frontline agreement with Trisura, Relm has strengthened its product offerings through several other recently announced partnerships. In November, the carrier announced a strategic partnership with cyber risk analytics platform CyberCube to boost its cyber insurance capabilities with advanced machine learning and artificial intelligence.
About Relm Insurance: Relm Insurance Ltd. (Relm) is a Bermuda-based specialty insurance carrier that supports emerging industries. Launched in 2019 to address the shortage of traditional insurance capacity available to emerging markets, Relm plays an active role in strengthening the resilience of the innovative industries it serves. The firm’s unrivaled professional experience and willingness to collaborate on creative solutions make Relm a highly sought-after venture partner for companies and institutions working at the forefront of innovation. Relm earned a financial stability rating of A, Outstanding, from Demotech.
Visit www.relminsurance.com for more information.
About Trisura Group: Trisura Group Ltd. is a specialist insurance provider operating in the guarantee, risk solutions, corporate insurance, fronting and reinsurance segments of the market. Trisura has investments in wholly owned subsidiaries through which it carries out insurance and reinsurance operations. These operations are primarily in Canada (“Trisura Canada”) and the United States (“Trisura US”). Trisura Group Ltd. is listed on the Toronto Stock Exchange under the symbol “TSU”. Trisura has three local companies in Oklahoma; admitted P&C company Trisura Insurance Company; local excess lines company Trisura Specialty Insurance Company; and recognized P&C Bricktown Specialty Insurance Company, which writes on a surplus and excess lines basis.
Visit www.trisura.com for more information.
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Andy Johnson, [email protected]