Brokers and underwriters will now be able to trade reinsurance over the internet following the creation of an electronic risk exchange by Swiss Re.

The site, called ELRiX, can be found at

It forms the foundation for Swiss Re's trading of standardised risk products. The exchange was developed working in association with Andersen Consulting.

Rudolf Kellenberger, a member of the executive board of Swiss Re, said: "This application opens up a new marketing channel for direct insurers and brokers which enables us to carry out business more rapidly and transparently."