eReinsure Secures $5 Million In Capital

EReinsure, a New York and London-based provider of e-commerce technology to the insurance and reinsurance industries, has received a $5 million investment from Century Capital Partners III LP, a Boston-based investment fund managed by Century Capital Management Inc. The investment will strengthen eReinsure's balance sheet and further accelerate its expansion plans, according to the company. The eReinsure platform became operational in October 2001 and has approximately 1,600 registered users, including facultative reinsurance underwriters for most U.S. direct writers. A total of 20,000 reinsurance submissions were presented on the eReinsure platform in 2002.