[2] Trilon Financial Corporation - Bermuda Home to New Reinsurance Group.Business Editors HAMILTON, Bermuda--(BUSINESS WIRE)--Oct. 23, 2000 Trilon (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :TFCa.) The Board of Directors of Imagine Reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. Holdings Limited is pleased to announce the capitalization capitalization n. 1) the act of counting anticipated earnings and expenses as capital assets (property, equipment, fixtures) for accounting purposes. 2) the amount of anticipated net earnings which hypothetically can be used for conversion into capital assets. and inception of its operations in Bermuda. The entity will serve as the primary holding company for the Imagine Group worldwide. In addition to Bermuda, Imagine has a principal office in Barbados and intends to open an office in Ireland. ING Barings LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control served as financial advisor to the Imagine Group in connection with its formation. The Imagine Group is a second generation finite-risk reinsurance enterprise whose goal is to become the leading provider of structured insurance and reinsurance capital to the global insurance marketplace. Imagine was founded by Brad S. Huntington and Thomas Gleeson who collectively have more than twenty years TWENTY YEARS. The lapse of twenty years raises a presumption of certain facts, and after such a time, the party against whom the presumption has been raised, will be required to prove a negative to establish his rights. 2. experience as senior executives in the finite risk marketplace. Co-CEO Thomas Gleeson commented: "Imagine is in part an organic Bermudian enterprise. It represents a new capital market focused reinsurance algorithm designed Algorithm design is a specific method to create a mathematical process in solving problems. Applied algorithm design is Algorithm engineering. Algorithm design is identified and incorporated into many solution theories of operation research, such as dynamic to alter traditional thinking about organizational 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." The common shares of the Imagine Group are ultimately held by Trilon Financial Corporation and management of the Imagine Group. Trilon is a major Canadian financial service company with extensive experience as an owner in the finite reinsurance Finite Reinsurance A type of reinsurance that transfers over only a finite or limited amount of risk. Risk is reduced through accounting or financial methods, along with the actual transfer of economic risk. marketplace. George Myhal, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Trilon Financial stated: "We are excited about being back in the finite risk marketplace and are proud to have associated ourselves with a management team which brings with it tremendous depth and experience in the area". The Imagine Group has initial subscribed capital subscribed capital n → capital m suscrito of US$200 million with a stated goal to substantially increase its capital base in the next twenty-four months to over $1 billion dollars in consolidated shareholders equity. Brad Huntington, Co-CEO of the Imagine Group stated: "Plans and discussions for the secondary infusion of our equity capital are positively advancing and will allow us to build within a short time frame a world class capital platform without historic business or organizational constraints CONSTRAINTS - A language for solving constraints using value inference. ["CONSTRAINTS: A Language for Expressing Almost-Hierarchical Descriptions", G.J. Sussman et al, Artif Intell 14(1):1-39 (Aug 1980)]. ". Introducing The Imagine Group The Imagine Group is a second-generation finite-risk reinsurance enterprise, incorporated and headquartered in Bermuda. Our goal is to become the leading provider of structured insurance and reinsurance capital to the global insurance marketplace. Products will be offered both to the property and casualty and to the life & annuity insurance segments worldwide. The Group currently has offices in Bermuda and Barbados. We expect to open a European office in Ireland in the first quarter of 2001. 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 streams. These contracts may cover multiple lines of business. It is expected that Imagine's structured insurance and reinsurance products may include contracts within the following areas:
Life and Annuity Property and Casualty
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Term Variable Commercial Structured
Life Annuities Risks Settlements
Universal Disability Workers Business
Life Products Compensation Interrruption
Corporate Owned Life Employers Casualty
Liability
Medical Liability
Malpractice
The Imagine Group Difference Imagine incorporates sophisticated capital adequacy modeling into both its underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. process and its ongoing dynamic asset liability management ("ALM"). Detailed financial underwriting models of all transactions are prepared during the underwriting process in order to evaluate risk and analyze expected cash flows. The financial underwriting models are then tested for sensitivity to material variables using a variety of statistical simulation and modeling techniques, so as to generate ranges of possible outcomes for each transaction together with anticipated percentage chances of occurrence. The output from the financial underwriting models is also employed dynamically by Imagine as part of its ongoing ALM, which incorporates elements of dynamic financial analysis, value at risk, and risk based capital analyses. The Capital Structure The Barbados operating unit operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon , Imagine Insurance Company Limited, is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Imagine Reinsurance Holdings Limited, a Bermuda incorporated holding company with initial subscribed share capital of US$200 million. The common shares of the Imagine Group are ultimately held by Trilon Financial Corporation and Management of the Imagine Group. Trilon is a major Canadian financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company with extensive experience as an owner in the finite reinsurance marketplace. The Imagine Group intends to substantially increase its capital base in the next twelve months with a stated goal to have total consolidated shareholders equity in excess of $1 billion dollars within twenty-four months. |
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