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Reinsurance Program

  • Safepoint entered the catastrophe bond market for the first time in 2015 to sponsor Manatee Re Ltd. (Series 2015-1), a $100m Florida named storm cat bond. Manatee Re 2016 expanded to $95m Class A and Class B. These are multiyear bonds.
  • All of our Reinsurance carriers are approved by the FL and LA Departments of Insurance Regulation
  • All of our Reinsurance Companies are A.M. Best Rated A or Better
  • Safepoint retains no more than 12% of capital from a first event basis and 18% capital across two events;
  • Safepoint purchased additional protection beyond Florida Hurricane Catastrophe Fund to allow for significant second event losses

2017 Reinsurer Key Financials

Location Reinsurer Name AM Best Rating Surplus Surplus Date Domicile
Domestic American Standard Insurance Company of Wisconsin A $343,136,000 12/31/16 Wisconsin
Berkshire Hathaway Specialty Insurance Company A++ $3,337,139,000 12/31/16 Nebraska
Everest Reinsurance Company A+ $3,635,121,000 12/31/16 Delaware
Odyssey Reinsurance Company A $3,193,933,000 12/31/16 Connecticut
Swiss Reinsurance America Corporation A+ $3,352,300,000 12/31/16 New York
The Cincinnati Insurance Company A+ $4,685,962,000 12/31/16 Ohio
Aspen Bermuda Limited A $2,296,210,000 12/31/16 Bermuda
AXIS Specialty Limited A+ $4,189,209,000 12/31/16 Bermuda
Chubb Tempest Reinsurance Ltd. A++ $7,050,570,000 12/31/16 Bermuda
DaVinci Reins thru Renaissance U/W Mgrs A $14,512,141,000 12/31/16 Bermuda
Endurance Specialty Insurance Limited A+ $4,991,254,000 12/31/16 Bermuda
Hamilton Re, Ltd. A- $1,561,400,000 12/31/16 Bermuda
Markel Bermuda Limited A $2,189,649,000 12/31/16 Bermuda
Partner Reinsurance
Company Ltd.
A $3,830,393,000 12/31/16 Bermuda
Renaissance Reinsurance
Ltd.
A+ $2,000,000,000 12/31/16 Bermuda
XL Bermuda Ltd A $1,457,198,000 12/31/16 Bermuda
Continental Europe & Asia Allianz Risk Transfer AG (Bermuda Branch) (Nephila business) A+ $604,358,000 12/31/15 Liechtenstein
MS Amlin AG, Bermuda Branch A $1,547,400,000 12/31/15 Switzerland
Pioneer Underwriting Ltd. obo Peak Reinsurance Company Ltd. A- $841,138,000 12/31/16 Hong Kong
Collateralized Markets Poseidon Re Ltd A Bermuda
Rubik Reinsurance, Ltd. A Bermuda
United Kingdom Liberty Specialty Markets, Paris obo Lloyd’s Syndicate 4472 A United Kingdom
Neon Underwriting Bermuda Ltd obo Lloyd’s Syndicate 2468 A ₤235,000,000 12/2/16 United Kingdom
Lloyd’s Underwriter Syndicate No. 0382 HDU A ₤330,000,000 11/30/16 United Kingdom
Lloyd’s Underwriter Syndicate No. 1084 CSL A ₤780,900,000 5/24/17 United Kingdom
Lloyd’s Underwriter Syndicate No. 1458 RNR A ₤293,300,000 12/1/16 United Kingdom
Lloyd’s Underwriter Syndicate No. 1729 DUW A ₤90,000,000 1/4/17 United Kingdom
Lloyd’s Underwriter Syndicate No. 1955 BAR A ₤378,600,000 11/30/16 United Kingdom
Lloyd’s Underwriter Syndicate No. 2001 AML A ₤1,850,000,000 5/24/17 United Kingdom
Lloyd’s Underwriter Syndicate No. 2791 MAP A 5/24/17 United Kingdom
Lloyd’s Underwriter Syndicate No. 3334 HAM A ₤32,000,000 12/2/16 United Kingdom
Lloyd’s Underwriter Syndicate No. 5678 VSM A ₤32,500,000 12/9/16 United Kingdom

2017 Reinsurance Structure

“We just wanted to call to give shout out to Alexis who helped us with our claim. We had some questions and concerns about a claim and she was really, really helpful. She was patient even though it was not her claim. I was very pleased with how she answered everything and took her time. Thanks so much and have a good day!”

Lee and Tami W.
Insured

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