Strategic Risk Solutions, the world’s largest independent insurance company manager, has announced the launch of Altitude, a managing general underwriter that is the company’s latest alternative risk transfer venture.

In a strategic move aimed at expanding its client services portfolio, Zurich-headquartered SRS Altitude will operate as an independent entity under the SRS umbrella, offering a comprehensive suite of ART solutions designed to address the growing complex risk management challenges and needs of corporate clients across industries, the company said.

Loredana Mazzoleni Neglén, former Swiss Re Corporate Solutions senior executive, will lead Altitude as Global CEO.

"We are thrilled to introduce Altitude as an integral part of our long-term commitment to providing exceptional client service," said Brady Young, CEO of SRS.

"The launch of Altitude represents a significant milestone in our ongoing efforts to diversify our offerings and enhance our ability to differentiate and meet the evolving needs of our valued clients, captives and broker partners."

SRS said it has recruited several seasoned ART and corporate insurance industry experts that will join in the coming months.

Mr Young added: “We have assembled a team with an outstanding track record and genuinely industry-leading capabilities to launch Altitude in the market, ensuring our clients receive best in class service."

SRS said clients, captives, and broker partners can expect a bespoke approach to risk management backed by strong underwriting solutions competence and track records, ensuring that their unique needs are met with precision and care.

It added that Altitude will focus on a wide array of ART solutions with an emphasis on best in class structured (re)insurance and parametric offerings.

Further, Altitude said it will continuously explore emerging trends and technologies in the insurance landscape such as climate change and supply chain disruption, offering clients access to the latest innovations.

Altitude is set to begin operations in the first quarter of 2024.