Bermuda-based, Aurigen Capital has moved to acquire Brokers National Assurance Company from Ameritas Life Insurance as it develops its presence in the US life reinsurance market.
Brokers National Assurance Company is licensed to write business in 48 states and the District of Colombia and following the closing of the acquisition, Aurigen will be able to “offer reinsurance capacity for individual life business utilising yearly renewable term and coinsurance structures through a US domiciled reinsurance entity.”
Commenting on the move, Alan Ryder, president and CEO of Aurigen Capital said: “our entry into the US life reinsurance market comes at a time when primary companies are looking for financially secure capacity, diversification of counterparty risk and a reinsurer that truly understands their business. We believe our new company will provide US primary writers with a new reinsurance choice solely dedicated to the life insurance industry that will serve their needs well.”
Aurigen Capital, Brokers National Assurance Company, Bermuda, US, reinsurance