Till Capital Signs Agreements With Multistrat Re
Till Capital Ltd., a Bermuda domiciled company announces today that its wholly-owned subsidiary, Resource Re Ltd. a ,Bermuda reinsurance company licensed as a class 3A insurer, has entered into certain agreements with MultiStrat Re Ltd., a Bermuda based private special purpose insurance company pursuant to which MSRE has agreed to provide certain underwriting and retrocession related services to the Company.
Barriers to entry are a critical factor in limiting access to the reinsurance sector, often requiring start-up capital in excess of $250 million. Working within the MSRE model the Company gains entry to the reinsurance market at an earlier stage with less capital required upfront and may benefit from the opportunity to grow its reinsurance business over time.
“Signing these agreements marks our transition to a reinsurance company,” said William M. Sheriff, Till Chairman and CEO. “We look forward to working closely with the MSRE team in building the Company’s reinsurance asset base.”
“Our original partnership with Resource Re is now greatly enhanced by Till Capital’s ownership of Resource Re and its commitment to the MSRE platform. We are excited to work with the Till Capital team as it builds Resource Re in Bermuda,” said Bob Forness, MSRE Chairman and Chief Executive Officer.
