Bermuda-based Till Capital’s subsidiary Resource Re has entered into its first reinsurance policy.
Arranged through special purpose insurer Multi-Strat Re, the pro-rata share of the policy provides Resource Re with $5.1 million of net premium with a claim liability cap of $6.5 million.
Till Capital said that the policy adheres to its reinsurance strategy focused on a portfolio of property and casualty and liability risks with above average frequency, low severity claim risks with capped liabilities.
In August 2014, Till Capital said that it had retained MultiStrat Re to provide underwriting and retrocession related services to Resource Re.
"We are pleased to have signed our first policy which represents a critical milestone for the company," said William Sheriff, chairman and chief executive officer of Till Capital. "We continue to work on additional policies noting all premiums will be managed within our current investment strategy."
Till Capital, Bermuda, Reinsurance, Multi-Strat Re, RenRe, William Sheriff