Wilton Re Presents at CSC Executive Roundtable on strategic outsourcing

Wilton Re Presents at CSC Executive Roundtable on strategic outsourcing
April 27, 2010

Enrico Treglia, Senior Vice President and Chief Operating Officer, presented at the 2010 CSC Executive Roundtable in Forth Worth, TX. Enrico discussed the significant competitive advantage Wilton Re has achieved through its business outsourcing strategy.

Click here for a copy of Enrico’s presentation.

For more information, please contact Enrico Treglia at [email protected], or phone at (203) 762-4438.

Wilton Re completes $240 million equity raise in third round of financing

Wilton Re completes $240 million equity raise in third round of financing
April 16, 2010

Wilton Re completed its third round of financing, April 16, 2010, with the issuance of $240 million of equity to private investors. Kelso & Company invested $200 million in Wilton Re, and Stone Point Capital, through its Trident Funds, increased its ownership in the company with a $40 million follow on investment.

Wilton Re’s CEO, Chris Stroup, stated, “We are pleased with success of our financing program and welcome Kelso & Company to our company and board. We believe the current economic climate will provide significant reinsurance-based opportunities for capital and risk support to companies and that Wilton Re’s unique proposition will position us well with the industry.”

For more information, please contact Ray Eckert at [email protected], or by phone at (203) 762- 4436.

A.M. Best affirms Wilton Re’s rating of A- (Excellent), with positive outlook

A.M. Best Revises Outlook to Positive From Stable for Wilton Reinsurance Bermuda Limited and Its Affiliates

OLDWICK, N.J. April 06 (BestWire) — A.M. Best Co. has revised the outlook to positive from stable and affirmed the financial strength rating of A- (Excellent) and issuer credit ratings of a-” of Wilton Reinsurance Bermuda Limited (Hamilton, Bermuda) and its affiliates, Wilton Reassurance Company (Plymouth, MN), Wilton Reassurance Life Company of New York (Rye Brook, NY) and Texas Life Insurance Company (Texas Life) (Waco, TX) (together known as Wilton Re).

The revised outlook for Wilton Re reflects the continued successful execution of its business plan with continued acquisition activity such as the purchase of Texas Life in 2009. In addition, Wilton Re has weathered the economic crisis well, generating favorable GAAP earnings and raising new equity capital in a very difficult market. Moreover, Wilton Re has no financial leverage.

The affirmation of Wilton Re’s ratings are based upon its consistent history of profitable growth, A.M. Best’s belief that the company will adhere to its business plan of growing largely through reinsuring life books of business and A.M. Best’s expectation that Wilton Re will maintain strong risk-adjusted capitalization levels. In addition, the recent acquisition of Texas Life allows Wilton Re to enter into an established and developed direct market with ongoing new premium generation through a writer that has solid capitalization and a history of profitable operations. In A.M. Best’s view, Wilton Re’s current risk-adjusted capital position is more than adequate to support its existing business.

Offsetting rating factors are Wilton Re’s relatively smaller size in the life reinsurance industry, increased competition in traditional reinsurance pricing and the continued need to finance the company’s business plan with either distributable earnings, operational or financial leverage or new equity capital. A.M. Best believes that the current economic environment and competitive landscape remains challenging, and thus may limit Wilton Re’s ability to meet its business growth objectives.

For Best’s Credit Ratings, an overview of the rating process and rating methodologies, please visit https://www.ambest.com/ratings.

The principal methodologies used in determining these ratings, including any additional methodologies and factors that may have been considered, can be found at https://www.ambest.com/ratings/methodology BN-NJ-04-06-2010 1201 ET #

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