USA

 INSURANCE RISK

Insurance risk is an ever-present concern for insurers, and in today’s rapidly changing market, the challenges and opportunities associated with managing and mitigating these risks are more complex than ever before.

Labor Market Challenge
Extreme shortage skilled staff and exponential cost.

Economic and Social Inflation
Pressure continues to impact claims and claims reserves.

Health Care and Medical Inflation
Long term trend and claims reserves and IBNR are continually being pushed upwards.

Nuclear Legal
Out of court settlements avoiding admitting responsibility are still growing.

Hardening Market Turning Softer
Rate increases slowed in early 2022 and continue to decelerate as participants see opportunities and new capital enters.

Potential Recession
The specter of the recession still hangs over all aspects of the economy limits.

 ABOUT

SERVICES

Xitus provides solutions to the following scenarios:

  • Companies, Insurers, Re-insurers, Captives looking to exit any line of business that is non -core to the business they write or manage or discontinued business.
  • Companies, Insurers, Re-insurers, Captives in run off looking to release capital that is locked up.
  • Companies, Insurers, Re-insurers, Captives that are looking to unwind previously written business which is no longer being written.
  • Businesses closed to underwriting new risks.

*Xitus is specifically focused on transactions valued between $5 million and $50 million.

VALUE IN USING XITUS

By selling your captive or insurance company, or transferring the risk to Xitus, you will be able to address the following challenges:

  1. Claims Management
  2. Tied up Solvency Reserve Capital
  3. Future Legal Liabilities
  4. Claims Deterioration

Xitus will ensure a clean cut, release of capital and an orderly claims run off process which will free up capital and ensure your focus and capital allocation remains in your core, high growth business.

 CONTACT DETAILS

PHONE

+1 (512) 580 3276

EMAIL

info@xitusibt.com

HEAD OFFICE

Skyline Building
1st Floor
1949 S IH-35
Austin
Texas
78741

 DIRECTORS

EXECUTIVE DIRECTOR

Robert has over 30 years experience in the insurance and financial services industry.

Robert started his career in 1990 as a stockbroker with Irish and Company Stock Brokers and became a partner and the youngest ever member of the Institute of Stockbrokers in 1993. He went on to form online stockbroker Utrade Securities which was listed on the JSE Securities Exchange in 1998.

Robert together with Andrew Lewis formed Global Alliance Insurance Holdings in 2001. Together they invested in numerous insurance and re-insurance companies, insurance and re-insurance brokers, insurance software and fintech entities throughout the world. Including, a UK domiciled, re-insurance broker, licensed and regulated by the FSA, named International Commercial and Engineering (ICE) Insurance which is still owned by the Lewis’s and regulated by the FCA. In addition, they formed One Re-insurance company Ltd, a re-insurer regulated by the PRA and FCA, which was subsequently sold to DARAG Deutsche Versicherungs-und Ruckversicherungpanies and renamed Darag Legacy Ltd UK. Robert and Andrew have made various investments in the legacy / run off sector since 2020. Robert is a non-executive director of Kindle Insurance Technologies, International Commercial Engineering (ICE) Insurance Holdings and the Chairman of Askari Fintech Insurance.

CHIEF EXECUTIVE OFFICER

Andrew is the joint founder of the Xitus group and has over thirty years of experience in the insurance and reinsurance industry and is an associate of the Chartered Insurance Institute of the United Kingdom and South Africa.

He started his career in Johannesburg South Africa in 1988. Moving to the United Kingdom in 1991 working in the London Insurance Market. In 1996 Andrew formed Baronscourt with offices in London and South Africa providing Insurance and reinsurance broking services. Jointly forming Global Alliance Holdings with Robert Lewis in 2001 which through acquisition and greenfield startups created an insurance group of licensed Insurance companies in 5 different countries with a turnover exceeding $300 million and a staff compliment of over 250 people.

From 2011 to 2014 Andrew and Robert successfully through M&A activity disposed of the 5 insurance companies in Global Alliance.In 2015 Andrew jointly formed One Re, a UK licensed Reinsurer, regulated by the PRA and FCA, with a side car MGA, One Risk Africa, underwriting on Sirius International and Arch paper. One Re transferred its portfolio to One Risk Africa in 2019, and was sold to DARAG Deutsche Versicherungs-und Ruckversicherungpanies and renamed Darag Legacy Ltd.

Andrew is now fully focused on legacy business and together with Robert have made various investments into Legacy insurers since 2020.

Jane is a qualified financial accountant with 34 years experience in accounting after completing her articles with KPMG in 1991.

Jane started her career as the Finance Manager for Standard Telephones and Cables . In 1998 Jane became the Financial Manager of Origin Commodities managing the finances of the Agricultural Commodities trading. In 2004 Jane established and owned a French Champagne business importing, distributing and marketing boutique, family owned Champagnes.

She later became the Financial Manager of Reitech Pty Ltd. From 2018 to date Jane has worked with the Lewis’ as the Group Finance Director overseeing Ice Insurance Holdings, Askari Insurance Holdings and Xitus Insurance Holdings and the various Insurance and Fintech industries including overseeing due diligence processes, regulatory compliance, budgeting and audits.