Case Study: The Imagine Group Convergence The Imagine Group (“Imagine”) is an example of the convergence of reinsurance and the capital markets. Imagine is a next-generation finite-risk reinsurance enterprise, which seeks to be the leading provider of structure insurance and reinsurance capital to the global insurance marketplace. Company & Product Imagine Reinsurance Holdings Limited is a Bermuda-incorporated holding company with initial subscribed share capital of U.S.$200 million. The Barbados operating unit, Imagine Insurance Company Limited, is a wholly owned subsidiary of the Bermuda holding company. Imagine is ultimately owned by senior management and Trilon Financial Corporation. Trilon is a major Canadian financial services company with extensive experience as an owner in the finite reinsurance marketplace through London Life of Canada. Imagine’s stated goal is to raise in excess of U.S.$1billion in total consolidated shareholders equity within 24 months. Imagine’s structured insurance and reinsurance products are individually customized capital- intensive contracts typically written over a multi-year period to provide more predictable revenue and claim payment stream. These contracts may cover multiple lines of business in the life, annuity, and property and casualty areas. Why Bermuda? Co-CEO Thomas Gleeson commented: “Imagine is in part an organic Bermudian enterprise. It represents a new capital market-focused reinsurance algorithm designed to alter traditional thinking about organization process, design and the nature of risk and return. As a Bermudian, I am particularly pleased that we can base Imagine Reinsurance here on the island, as a tangible demonstration of what our commercial environment and individual determination can create.” As the third-largest insurance capital in the world, with over $100 billion in assets, Bermuda’s reputation as the insurance laboratory to the world has bred an entrepreneurial spirit and aptitude to tackle risks in creative and pioneering ways. Bermuda’s highly sophisticated insurance and hedge fund communities are a strong presence on the island.. The convergence community that has evolved in Bermuda draws on a history of well- established insurance and financial engineers who are recognized experts. Companies like Centre Solutions, XL Capital and ACE are being joined by the likes of Stockton Re, Max Re and Tremont International Insurance Ltd., which are blending alternative investments with risk transfer. Bermuda has both the financial and intellectual capital to create solutions that transcend the boundaries of the insurance and financial worlds. In addition you have a world class regulatory regime, time zone/geographic location at the confluence of North America, South America and Europe, and the fact that Bermuda is a mere 90-minute flight from New York City, are important considerations. Bermuda has the on-island presence of the major insurance companies, major accounting firms and leading law firms, which was also attractive. Contact For more information on The Imagine Group, please contact Thomas Gleeson at email@example.com.
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