ALR at a Glance
- Incorporated on October 18, 2019 and is licensed under the Insurance Act 1978 of Bermuda as a Class 3A (re)insurer
- Bermuda regulated and managed reinsurer, targeting income from underwriting, investing, and fee-based activities
- Key tenets – Creativity, Flexibility, Speed
- Targeting small number of transactions, with highly respected partners
- Underwriting focus is well diversified, medium to long tail, well-understood, well-modeled risks. Modest appetite for property cat exposure
- Fee-based activities generally focused on, but not limited to transforming reinsurance risk for investors
- Benefits from an uncorrelated investment strategy managed through the sophisticated family office platform
- Leverages a low-cost, low-overhead flexible operating model
- Extremely well capitalized, with a current BSCR (solvency ratio) in excess of 200%
- Transactions secured/collateralized by Letters of Credit and/or Trust Agreements with reliable, validated financial institutions
- Relationships in capital markets may accelerate growth of underwriting capacity over time
Balance Sheet / Capital Strength
(June 30, 2023)
Total Assets: $303.5M
Total Liabilities: $138.3M
Total Shareholders Equity: $165.2M
BSCR Ratio: >200%(est)
Services Offered
- Assumed Reinsurance
– Strong preference for Quota Share transactions having an aligned interest (i.e. co-participations), and loss limiting features (e.g., loss ratio caps, loss-sensitive ceding commissions)
– Seeking meaningful participations on whole account or well diversified portfolios
– Open to single line of business treaties
– Will generally only offer Property Cat as part of a multiline transaction - Fee-based partnerships
– Transforming UW risk for investors
– Investment management taking advantage of MILFAM expertise