Case Study The Imagine Group by tut53443


									Case Study: The Imagine Group

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.

For more information on The Imagine Group, please contact Thomas Gleeson at

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