Faster, easier administration of reinsurance contracts offered by Web Connectivity's new Ruschlikon Lite solution  

Munich, Paris, Zurich, London, 28 September 2011 - Insurance cedents and brokers will benefit from faster, easier administration of reinsurance contracts thanks to a new messaging platform provided by London-based Web Connectivity as part of the Ruschlikon initiative.

The aim of Ruschlikon Lite is to provide electronic messaging functionality supporting reinsurance administration for cedents and medium-size brokers. It is a simplified, low cost, "easy to engage with"-approach: designed as a straightforward solution transforming organization-specific spreadsheets or template-based input into state of the art ACORD RLC messages.

ACORD RLC is the Reinsurance and Large Commercial community of ACORD, the Association for Cooperative Operations Research and Development whose aim is to facilitate the development of open consensus data standards and standard forms in the insurance community. Representatives of Munich Re, SCOR and Swiss Re will work jointly on the project with Web Connectivity.

The service will be free of charge for cedents. First contacts with interested cedents have been established. The intention is to exchange the first messages in 4Q 2011.

Ruschlikon Lite is being piloted in all aspects of reinsurance administration as a complementary service to the full, two-way process Ruschlikon Implementation. The Ruschlikon Initiative is structured as an open, non-profit industry solution, sponsored by leading brokers and reinsurers.

Munich Re's Dietmar Meyer, SCOR's Regis Delayat and Swiss Re's Arno Greter jointly stated "We are proud to cooperate with Web Connectivity. Their excellent knowhow and service supports an attractive solution for cedents in e-accounting."

James Willison, Managing Director Web Connectivity, said today, "We are extremely excited to have been chosen as the supplier for the Ruschlikon Lite Platform and we look forward to working with the Ruschlikon community to deliver a proven ACORD messaging solution 'out of the box' which we have already implemented widely across the Global Insurance and Reinsurance market."

Juergen Heck, ACORD Project Leader of the Ruschlikon Initiative, backed-up the positive outlook by saying: "We are very pleased to be launching a solution that will add value for cedents and other market participants. Using the new Web Connectivity solution will mean faster cycle times, less paperwork and auditable inter-company administration processes. I believe that once market participants take a closer look at the advantages offered, we will see great interest in using the Ruschlikon Lite solution"

Notes to editors

Munich Re

Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. Munich Re creates value for clients, shareholders and staff alike. In the financial year 2010, the Group - which pursues an integrated business model consisting of insurance and reinsurance - achieved a profit of ?2.4bn on premium income of around ?46bn. It operates in all lines of insurance, with around 47,000 employees throughout the world. With premium income of around ?24bn from reinsurance alone, it is one of the world's leading reinsurers. Especially when clients require solutions for complex risks, Munich Re is a much sought-after risk carrier. Our primary insurance operations are concentrated mainly in the ERGO Insurance Group. With premium income of over ?20bn, ERGO is one of the largest insurance groups in Europe and Germany. It is the market leader in Europe in health and legal protection insurance. More than 40 million clients in over 30 countries place their trust in the services and security it provides. In international healthcare business, Munich Re pools its insurance and reinsurance operations, as well as related services, under the Munich Health brand. Munich Re's global investments amounting to ?193bn are managed by MEAG, which also makes its competence available to private and institutional investors outside the Group.

SCOR

SCOR is the fifth largest reinsurer in the world, with a premium income of EUR 6.7 billion in 2010, and an expected premium income of EUR 8.6 billion in 2011 pro forma, after the acquisition of Transamerica Re. Life reinsurance represents around 55% of premiums, Non-Life reinsurance 45%. SCOR operates in more than 160 countries, with a structure of 6 Hubs comprising 35 offices spread across 5 continents. A three engine Group comprising SCOR Global P&C, SCOR Global Life and SCOR Global Investments, SCOR has a high level of sectorial and geographic diversification and provides its clients with first class security and cutting edge technical services throughout the world in order to meet their reinsurance needs. SCOR SE (Societas Europaea) is listed on NYSE Euronext Paris (SCR).

Swiss Re

Swiss Re is a leading and highly diversified global reinsurer and part of the Swiss Re group of companies. The company operates through offices in more than 20 countries. Founded in Zurich, Switzerland, in 1863, Swiss Re offers financial services products that enable risk-taking essential to enterprise and progress. The company's traditional reinsurance products and related services for property and casualty, as well as the life and health business are complemented by insurance-based corporate finance solutions and supplementary services for comprehensive risk management. Swiss Reinsurance Company Ltd is rated "A+" by Standard & Poor's, "A1" by Moody's and "A" by A.M. Best. Swiss Re Ltd is the holding company for the Swiss Re Group. Its shares are listed on the SIX Swiss Exchange and trade under the symbol SREN.

Web Connectivity

Web Connectivity is the leading ACORD Gateway provider in the London Insurance market. Web Connectivity enables both brokers and carriers to effectively implement business process reform, through secure electronic communication of risk data and supporting documents. Founded in 2003, Web Connectivity is a profitable organisation, offering both technical solutions and business consulting to organisations seeking to improve efficiency in relation to Accounting & Settlement, Claims and Electronic Placement.Our multi-award winning (29 in all) generic messaging Gateway, EnabledB2B, is being used by more than 65 organisations including the world's biggest International brokers, Lloyd's Managing Agents, International Carriers and central bureau providers, successfully processing millions of messages each year.