Barents Re has been awarded Best Reinsurance Company Italy 2018 by Global Banking & Finance Review.
Global Banking & Finance Review defines the criteria for success at the awards as follows:
“The Awards reflect the innovation, achievement, strategy, progressive and inspirational changes taking place within the Global Financial community. The Awards were created to recognize companies of all sizes which are prominent in particular areas of expertise and excellence within the financial world.”
Here the interview by Global Banking & Finance Review:
Barents Re continues the development of its international Bonds business with its presence at an industry event co-hosted by the Galician Shipping Association (ACLUNAGA) in Vigo on 19thApril. The purpose of the event was to inform senior representatives of all interested parties of the security which reinsurance can bring to the structuring of vessel construction deals.
Luis Fernández, Barents Re’s Bonds Manager, discussed how shipbuilders, shipowners, banks and financial institutions can all benefit from the use of an insurance bond to release the shipyards’ bank credit lines and ease the problems arising from the complexities of large shipbuilding transactions. Reinsurance can provide new and fresh capacity to the shipbuilding industry giving alternative and complementary solutions to the traditional bank guarantees thereby diminishing the financial risks associated with big shipbuilding projects.
Barents Re’s collaboration with the shipbuilding industry is a further example of the company’s niche focus which has proven to be an essential driver of its ongoing success.
Further information on the event is available via the following link:
Barents Re’s continued expansion into the international Bonds market gathers pace following the company’s speech at the Surety Bonds Seminar held in Istanbul, Turkey on 11thApril 2018. Thelaws enacted to regulate the Turkish Surety Bonds alongside the changes introduced into the Turkish Public Procurement Law approving surety bonds in public tenders provided the ideal platform for Barents Re to speak about its expertise and build its credentials in the country and the wider region.
Attendees representing a significant number of the most important insurance companies were present at the event organised by Han Insurance and Reinsurance Brokers. Barents Re’s message was very well received and players in the local market were delighted that a specialised reinsurer with Barents Re’s reputation can bring its know-how into a marketplace with huge potential in this class of business.
The construction industry will be a significant driver of Turkey’s economic development in the next ten years as billions are to be invested in new buildings as well as demolishing and rebuilding old properties in line with new construction regulations.