The Bermuda-based property and casualty runoff reinsurer, Xitus Re Ltd has extended the INTX Re/Insurance Operating System across growing runoff portfolios, transaction structures and jurisdictions.

INTX Insurance Software said it demonstrated how a unified enterprise insurance platform can scale.

It said INTX Re was at the centre of Xitus’ assumed reinsurance operations, with INTX’s purpose-built assumed reinsurance platform.

INTX Insurance Software is a US-based provider of enterprise software for the global re/insurance industry. Its unified Re/Insurance Operating System supports ceded and assumed reinsurance, underwriting, policy administration, claims, accounting, reporting and financial operations within a single platform. Purpose-built for reinsurers, carriers, MGAs, fronting organisations, mutuals, captives and specialty insurers, INTX helps organisations modernise operations, strengthen financial control and gain greater visibility across the economics of risk.

The statement said: “INTX Re supports Xitus as it integrates and administers increasingly complex runoff portfolios within a connected enterprise environment, spanning treaty and facultative administration, premium and loss accounting, claims, capacity and financial operations.

“The expanded deployment extends INTX as a common operating foundation across Xitus’ growing business, supporting the integration and administration of runoff portfolios transferred from major insurance groups while connecting policy administration, claims, financial operations, reinsurance, reporting and governance within a single operating environment.

“For INTX, the expansion demonstrates a critical requirement of enterprise reinsurance software: the ability to scale beyond initial implementation as an organisation adds portfolios, structures, legal entities, jurisdictions, and operational complexity.

“Rather than introducing separate technology environments as new business is added, Xitus can extend the same INTX operating foundation across additional runoff portfolios and transaction structures. This enables the organisation to grow while maintaining consistent processes, connected data, financial control, and operational visibility across the enterprise.

Xitus’ continued transaction activity provides a tangible example of that scalability. The company recently completed their transaction with a major US insurance group covering a portfolio of US excess worker compensation contracts.

The transaction is one of several Xitus is looking to complete as it expands its operations and footprint into new jurisdictions. Each additional transaction can introduce new claims histories, financial obligations, legal structures, reporting requirements and regulatory considerations, increasing the operational complexity that must be managed across the business.

Xitus initially selected INTX to establish a connected operating foundation for its global runoff, captive, loss portfolio transfer, and insurance business transfer operations. As the business has expanded, Xitus has continued to extend that foundation across new portfolios.

Jane Newton, group CFO at Xitus, commented: “We are delighted to have completed this transaction, providing an economic and operational exit solution. This is one of several transactions which we are looking to complete this year, as we look to expand our operations and footprint into new jurisdictions.”

The continued expansion illustrates how INTX Re, the purpose-built assumed reinsurance system within the INTX Re/Insurance Operating System, is designed to support complexity at the enterprise level. As runoff portfolios are transferred from major insurance groups, Xitus can bring those portfolios into a consistent operating framework spanning reinsurance administration, claims, financial operations, reporting and governance.

“Enterprise reinsurance software has to do more than support the business that exists on day one. It has to expand as the organisation itself becomes more complex,” said Rob Lewis, chief executive officer of INTX. “Xitus is demonstrating exactly that. INTX Re can expand with them within the broader INTX operating environment. That ability to support increasing structural and organisational complexity within one environment is central to what we built the Re/Insurance Operating System to do.”