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Insurance
Management

The Horseshoe Group is a leading provider of insurance management services to insurers, reinsurers, side cars, transformers, and catastrophe bonds. Our extensive experience across all aspects of the insurance industry enables us to deliver superior management skills which make significant contributions to your operations. We are your team on the ground!

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Cat
bonds

Horseshoe’s expertise in cat bond administration runs the gamut from large rated, publicly traded issues to small private issues.

We work closely with sponsors, arrangers and deal counsel to set up and license the issuer and appoint third-party service providers as required. Once the transaction closes, we administer the issuer in accordance with the governing documents, ensuring that obligations to note holders are met while ensuring that the company meets all of its regulatory requirements.

Services

Set-up

  • Integral member of working group working closely with arranger and sponsor
  • Assist in the incorporation process including facilitating the purpose trust to own the vehicle
  • Provide directors
  • Assist in identifying and retaining service providers
  • Review of all documentation from issuer point of view
  • Set-up of trust and bank accounts as required
  • Assist with licensing application
  • Develop expense budget and financial projections
  • Receive service provider invoices and arrange settlement on closing

ADMINISTRATION

  • Ensure that the company meets all obligations under the various governing documents, including note indenture, reinsurance agreement and trust agreement
  • Liaise with other third-party service providers such as modeling agent, claims reviewer, loss reserves specialist, tax advisor, rating agency, etc., as required
  • Manage secure data site and ensure all available information is posted for investors

FINANCIAL
REPORTING

  • Maintain financial records
  • Monitor expense payments against budget
  • Prepare periodic management accounts and annual shareholder financial statements
  • Prepare and file annual Statutory Financial Return and Statutory Financial Statements

REGULATORY
MATTERS

  • Serve in regulatory-mandated capacity (for instance, Principal Presentative, Segregated Account Representative, etc. as applicable)
  • Represent client’s interests to the regulator
  • Monitor continued compliance with statutory obligations, including compliance with the local policy and guidance and codes of conduct
  • Complete all statutory filings

Termination

  • Monitor commutation/termination terms and ensure timely and orderly release of capital and profits to investors
  • Prepare the company for dissolution, including termination of insurance license, release of charges and settlement of obligations
  • Assist in appointment of liquidator