Reinsurance: One Re authorised by UK regulators

UK regulators have approved a new London-based non-life reinsurance company established to focus solely on business from the African continent. One Re on 26 November said it was the first traditional start-up reinsurance company to be approved under the UK’s new regulatory regime that came into effect in April 2013. One Re – whose founders have invested an initial $50m in cash as start-up capital – is offering local African insurance companies what it calls “well-capitalised and transparent reinsurance solutions