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 underwriters 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 underwriters 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.

Over the course of the last five years the company has expanded its offering to cover the Energy, Marine and Non-Marine lines where aggregate control, pricing and portfolio modelling capabilities are also available.