Best RE first takaful company to license Risk Explorer™ from Ultimate Risk Solutions
Labuan, Malaysia – BEST RE (L) LTD, a leading reinsurer that operates under the Islamic principles of Takaful, has licensed Risk Explorer™, the dynamic financial analysis model from Ultimate Risk Solutions, LLC, Chris Venvell, URS Business Development Director-Asia Pacific, announced today.
BEST RE was formed 25 years ago in Tunisia as the world's first reinsurer organized to comply with Shariah, or Islamic law. Today, BEST RE's head office is in Labuan and the Company operates across the Far East, Turkey & Central Asia, the Middle East and Africa. It is a wholly owned subsidiary of Dubai-based Islamic Arab Insurance Company (Salama) P.S.C., the largest, global Takaful group.
"We're pleased to welcome BEST RE to URS as the first Takaful reinsurer to select Risk Explorer™ as their choice for financial risk analysis and as our first client in Malaysia, a center for Takaful business worldwide," said Alex Bushel, CEO of URS.
Recently, URS co-sponsored the 6th Asian Takaful Conference in Singapore. "We have made a strong commitment to the Takaful market," Venvell reported. "Our actuaries are fully conversant with Takaful. After reviewing the risk-based capital requirements for licensees from Bank Negara, we presented Risk Explorer™ to BEST RE and following an extensive trial, they decided it is the most suitable product for their needs," he added.
BEST RE (L) LTD provides a wide range of reinsurance products to suit the needs of most insurance companies in the emerging markets of Asia and Africa. It accepts both treaty and facultative business on either a proportional or non-proportional basis. The Company is rated A-Excellent by A.M. Best.
Formed in 2001, URS was one of the first to create dynamic financial analysis (DFA) software for business decision making. Today, Risk Explorer™ is used by leading insurance and reinsurance companies, brokers, consultants, and governmental agencies in the United States, Europe, the United Kingdom Latin America, Asia and Australia. URS recently entered the Asian markets with bases in Bangkok for South Asia and Hong Kong for North Asia
The URS Business Development team is composed of Chris Venvell in Bangkok and David Piesse, Managing Director-Asia Pacific, in Hong Kong. They are available to arrange demonstrations of Risk Explorer™ and other URS products. Contact them at firstname.lastname@example.org and email@example.com.
Media contact: Mechlin Moore, MDM Communications (+1 845-920-7081; firstname.lastname@example.org).