September 10, 2014 10:45 ET

A&P Worldwide Solutions Ltd Licenses CATEX Pivot Point Reinsurance Platform

LONDON and PRINCETON, NJ--(Marketwired - Sep 10, 2014) - A&P Worldwide Solutions and CATEX announced today that A&P, a newly formed London reinsurance intermediary, has licensed the CATEX Pivot Point Reinsurance Transaction System. The parties indicated that system implementation and training will begin immediately and A&P expects to be placing business on the system by October, 2014.

A&P Worldwide General Manager Antish Ramrup said, "Our firm has deep roots in the London market so CATEX was well known to us as was the Pivot Point System. After reviewing other system alternatives it was clear that the functionality and work flow design of Pivot Point combined to make this a very easy selection for A&P."

Frank Fortunato, CATEX CEO, said, "that with any new broker the most important task is to get them up and operating and using Pivot Point live as soon as we can. That's the great strength of the Pivot Point web-based system and we have no doubt we will have A&P using the system fully within a few weeks. We are pleased to be their partners."

A&P has plans to expand its business by concentrating on the Middle East, North Africa, the Persian Gulf and South Asia. Mr. Ramrup said, "We are attending the African Insurance Organisation (AIO) Conference in Cairo later this month and our Pivot Point System will be something we use to attract both markets and clients. The accuracy and recordation functions of Pivot Point offer great reassurance to our business partners."

The Pivot Point platform currently supports client operations in 20 countries; processes premium volumes of more than USD $4.5 billion annually; settles transactions in 75 currencies; and distributes invoices in 6 languages.

CATEX has been providing insurance and reinsurance software to clients since 1994.

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About CATEX:

The Catastrophe Risk Exchange, Inc (CATEX) is a leading developer of web based insurance and reinsurance software. CATEX provides software as a service to brokers, agencies and reinsurers to manage all of their Treaty, facultative and commercial insurance needs. CATEX's flagship products, Pivot Point and Data Vera, are Microsoft .NET based solutions that provide placement, contract management, fiduciary accounting, ledger control, claims management, multi-currency settlements, bordereau processing, document management, data conversion, and comprehensive MI reporting functionalities. CATEX has been operating since 1994 and is licensed by the New York Insurance Department as a reinsurance intermediary that acts in a neutral capacity. In 2013 CATEX was named by Intelligent Insurer magazine as "Technology Provider of the Year" at the annual Rendezvous in Monte Carlo.

For more information, visit CATEX at

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