LUGANO, SWITZERLAND, January 10, 2024 /EINPresswire.com/ -- The year 2024 could not have started in a better way for the iSwiss Financial Group: it was only a few days ago that the United Arab Emirates granted the group's new company, iSwiss Reinsurance, a licence to operate in the reinsurance market in the Middle Eastern country.

The reinsurance market is one of the most challenging markets to enter in the insurance world: hitherto dominated by US companies, which for decades had a sort of 'de facto monopoly', this market, in fact, has a very limited number of leading companies.

It is also a market that is little known to the uninitiated: companies operate by having insurance companies as clients and reinsuring them from the risks and exposures they are exposed to during their business.

In order to operate precisely in this market, iSwiss Reinsurance was founded, which will be based in Dubai and offer its services globally: of course, among its customers will be iSwiss Insurance. This group company has already been successfully operating in the insurance sector for some time.

This is another important milestone achieved by the iSwiss Group and further recognition of the company's value and solidity. In fact, a reinsurance licence is only granted if specific characteristics guarantee the security of the licensed company.

It comes after a process involving a careful and thorough examination of the applicant company and the group to which it belongs: this is especially so, given the role that reinsurance companies play in the global insurance market.

As Christopher Aleo, CEO of the iSwiss Group, explains: "Reinsurance companies are the solid foundation of the insurance system. Because it is precisely to these companies that insurance companies refer to to manage risk better and stabilise their financial flow."

"Especially in the case of severe events, the role of reinsurance companies becomes vital to ensure the system's stability. These companies secure insurance finances thanks to their services and contracts; as a result, the insurance market becomes robust and more accessible to all consumers. You hardly ever hear about reinsurance companies in the media. Still, these almost 'invisible' companies are a cornerstone of the system, which in their absence would risk collapsing, harming insurance companies and consumers."

The iSwiss Group's decision to expand its insurance business is undoubtedly due to the forecast increase in demand in the reinsurance sector and the excellent results achieved by iSwiss Insurance.

The group's insurance company ended 2023 with an impressive $16.8 billion insured value. This remarkable achievement stems from the wide range of insurance products offered and from being one of the most important players in insurance tech, thanks to the use of advanced technologies such as blockchain that guarantee the security and authenticity of policies.

Andrew Anderson
Euronewspress JSC
press@euronewspress.com

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