Established in 1962, the company provides life insurance products for. It can also be used as a stabiliser to smooth operating performance volatility, and as a driver of innovation when exploring emerging perils, exposures, and covers. EMC National Life Company (EMCNL) is an insurance company based in Des Moines, Iowa. It can be used as a growth lever to bring in new clients, markets, and distribution channels. ![]() ![]() Mondale said: “Diversification has several uses. Speaking in an interview with Reinsurance News, Mondale Smith, president and COO of EMC Re, said that the firm had a plan for growth that involved further diversification of its business, as well as a focus on writing more reinsurance business from abroad. That statement takes on a different colour considering today’s news. It only just over a year ago when EMC Re said that ‘humility and agility’ would be key for the company to manage attrition and volatility as it looks to grow further and expand into new markets. Of the reinsurers included in the survey, the highest Q2 combined ratio was once again posted by EMC Re at 125.8%. Last month, it was reported here that EMC Re was one of six reinsurers that saw a net loss in Q2 of this year. He added: “While an extremely difficult decision, EMC felt this move was necessary to position the company for the future and the achievement of its strategic plans and goals.” In total, EMC has approximately 2,200 team members countrywide, with more than 1,100 located in Iowa. Impacted team members also will have the opportunity to interview for other EMC positions. This will be a gradual workforce reduction over time, beginning Jan. All impacted team members have been notified. Jean said: “This transition impacts approximately 65 team members, located across the US, who will receive severance packages and comprehensive career/placement services. It is currently exploring options for the management and/or runoff of existing reinsurance business. Jean also said that EMC Re represents about 10%, or $180m, of EMC’s total annual premiums.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |