Klapton has concluded an agreement with The Quest Partnership, to provide claims consultancy services for Klapton, covering the global portfolio excluding Israel. Shay Reches commented “The Quest Partnership are an established claims company and what impressed the Board the most is that they take a niche approach to claims handling. The Board are convinced that […]
The Board has announced the 2013 results for Klapton which saw a fall in premium income from €48m to €32m. Primarily as a result of the EEA portfolio, the company recorded a net underwriting loss of €(3.9)m. The net loss of the year was €(9.5)m Despite this loss, Klapton maintains a strong capital case, with […]
Klapton has finalised an agreement with a UK IT services company to provide consultancy services regarding the IT infrastructure of Klapton. In addition to the day to day IT systems maintenance this encompasses the development of the website, online sales channels and social media promotion of Klapton and its brand. Mr Reches, the CEO of […]
It was announced today by Shay Reches, that Klapton would be make a strategic shift in its business model, away from the reinsurance liability business written by EEA carriers in the United Kingdom. Mr Reches stated that although this business had generated a significant premium income in recent years, the underwriting result had been disappointing. […]
The Board of Klapton is pleased to announce the 2012 results for Klapton generating a profitable underwriting result in excess of $26m. The net result for the year was a profit of over $7.5m. Total assets increased from 2011 by $8.3m. The capital base of the company increased from $41m to $50m.