First Intermediary to Provide Standard & Poor’s Reinsurer Rating Changes to Clients in Real-Time
MINNEAPOLIS, MN – Benfield, the world’s leading independent reinsurance and risk intermediary, announced today that its current automated reinsurer rating change notification service has expanded to include rating changes from two of the top rating agencies.
Through an agreement with Standard & Poor’s (S&P), the world’s foremost provider of financial market intelligence including credit ratings, indices, risk evaluation, investment research and data, Benfield has been given direct access to their electronic ratings file enabling Benfield to provide real-time S&P reinsurer rating change notifications to its U.S. clients.
Earlier this year Benfield became the first reinsurance intermediary to provide its clients with reinsurer rating change notifications from another widely recognized rating agency dedicated to the insurance industry.
Benfield automatically notifies its clients about reinsurer rating changes in real-time and correlates the impact to their specific reinsurance contracts. Utilizing direct, live data from both leading rating agencies and leveraging the power of its proprietary Global Reinsurance Distribution System (GRiDS), Benfield delivers immediate notifications to clients affected by reinsurer rating changes. The automated notifications detail the impacted reinsurance contracts that are serviced by Benfield Inc.
“Benfield has partnered with leading rating agencies to provide our clients with customized reinsurance rating notifications as soon as a rating change is released. This expanded service further demonstrates Benfield’s ongoing commitment to lead the market in delivering innovative products and services to our clients,” said Kevin Campion, Executive Vice President and head of the US Benfield ReMetrics team.
About Standard & Poor’s Standard & Poor’s, a division of The McGraw-Hill Companies (NYSE:MHP), is the world’s foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 8,500 employees, including wholly owned affiliates, located in 23 countries and markets, Standard & Poor’s is an essential part of the world’s financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit http://www.standardandpoors.com.
About Benfield Benfield is the world’s leading independent reinsurance and risk intermediary. Its customers include many of the world’s major insurance and reinsurance companies as well as government entities and global corporations. Benfield operates from more than 50 locations worldwide. The company is listed on the London Stock Exchange under the ticker symbol BFD. www.benfieldgroup.com
