RC Reinsurance Inc., 103 Carnegie Center, Suite 117, Princeton 08540; 609-454-4300; fax, 609-454-4310. Robert Christian, president.
RC Reinsurance has moved from 103 College Road East to 103 Carnegie Center, Suite 117.
The company, formed by president Robert Christian in 1994, underwrites accident and health re-insurance for syndicates of Lloyd’s of London. In 2008 he moved out of New York and opened the office on College Road in the Forrestal Center.
Christian’s company is a niche business within the niche of reinsurance. “I don’t do life or medical,” says Christian. “Lloyd’s calls it the personal accident business — incentive trips and executive travel.” For instance, if 100 people from the World Bank will fly on one chartered jet into a developing country, one insurance company might not want to cover the entire liability in case of a crash. Christian’s firm would figure out what to charge for a Lloyd’s of London subsidiary to provide backup insurance, called reinsurance.
He writes what are called “facultative” reinsurance policies. These could be “one incident” policies, such as a business trip, or a high-limit annual contract on an executive or a group of executives.
For example, a big soft drink company wants to insure its 10 top executives for $10 million to cover traveling mishaps for one year. The first insurance company agrees to cover the first $5 million, and RC Reinsurance would write a policy to cover the second $5 million.
Gateway Funding, 3685 Quakerbridge Road, Hamilton 08619; 609-586-0020; fax, 609-586-4325. Frank J. Mancino, regional vice president. www.themancinoteam.com.
Gateway Funding, a home mortgage company, has moved from 3564 Quakerbridge Road to 3685 Quakerbridge Road in Mercerville.
New Jersey Health Care Quality Institute, 400 Sullivan Way, Trenton 08628; 609-303-0373; fax, 609-303-0645. David Knowlton, president and CEO. www.njhcqi.org.
The New Jersey Healthcare Quality Institute moved from 400 Sullivan Way in Trenton to 238 West Delaware Avenue in Pennington. The organization conducts a number of initiatives with the goal of improving health care for everyone in the state.
#b#New in Town#/b#
Sparta Systems, 2000 Waterview Drive, Suite 300, Hamilton 08691; 609-807-5100. Eileen Martinson, CEO. www.spartasystems.com.
Sparta Systems Inc., provider of enterprise quality and regulatory software for the life science industry, has relocated its headquarters from Holmdel to Waterview Drive in Mercer Corporate Center in Hamilton Township.
Sparta recently received Business Employment Initiative and Business Retention and Relocation Assistance grants from the state Economic Development Authority (EDA) totaling more than $2 million.
“The EDA is happy to have supported this innovative company in opening its new headquarters and further expanding New Jersey’s vibrant technology sector,” said Sparta CEO Eileen Martinson. “As companies grow and expand, it is their responsibility to help grow the local economy as well. At Sparta, we felt it important to maintain our New Jersey heritage and continue on our already established growth path in the region. The state’s unwavering support made our decision to move to Hamilton an easy one, and we look forward to what lies ahead in our company expansion.”
Last year Sparta was named the 2012 Software Company of the Year by the New Jersey Technology Council (NJTC). The award recognized Sparta as a leader among New Jersey technology vendors based on its industry impact, growth rate, and success in the marketplace. “This is exactly the kind of company New Jersey and the region wants to keep right here,” said NJTC president and CEO Maxine Ballen.
Founded in 1994, Sparta Systems provides quality management software to customers in highly-regulated industries including pharmaceuticals, medical devices, biotechnology, CROs, consumer products, and electronics manufacturing.
The company’s flagship product is TrackWise, a software product used to manage quality control and compliance issues across an enterprise.
Staff IT, 116 Village Boulevard, Suite 311, Princeton 08540; 609-520-9595. Dipak Chaterjee, vice president. www.operationIT.com.
Staff IT, an information technology staffing firm, has opened a new office in Forrestal Village. The company also has offices in New York City, Melville, NY, and Boston.
Kumon Math & Reading Center, 2 Tree Farm Road, Suite B-210, Pennington. www.kumon.com.
Kumon Math & Reading Center, an international educational facility, has closed its location at 2 Tree Farm Road in Pennington.
The school, which teaches fundamental math and reading comprehension skills to children kindergarten through 12th grade, has numerous franchise locations in the area.