History

Russell was set up in the 1990s as a solution provider to the London insurance market, and quickly engaged on assignments with London Market Claims Services, Lloyd’s of London, the Equitas reserving project, and leading international insurance companies. The company provided a range of technology and services for insurance run-off and reserving needs which helped practitioners understand their exposures.

In 1998 the company decided to use its run-off expertise to diversify into exposure management for active business, and began working with a number of Lloyd’s-based companies to devise a portfolio management solution initially aimed at Aerospace reinsurance business, but which could eventually be applied to other specialty lines such as Energy, Marine and Non-Marine. The aim was to enable practitioners to have better knowledge of underlying risks and more control over exposures within their portfolios whether the risks were written, managed or delegated. In 2000 the solution was named ALPS and has become a standard in the Aerospace insurance industry. All the key Aviation reinsurance brokers and many of the companies underwriting aerospace portfolios now rely on the analytical capabilities of ALPS.

More recently Russell has expanded its offering by adding an index-based catastrophe instrument for Aviation and launching data centre-enabled remote services. The company has also extended the ALPS portfolio management capabilities to cover Energy, Marine and Non-Marine insurance and reinsurance.