+1.866.213.2858 info@uiunderwriters.com

United International Underwriters

Reassurance

INSURANCE

United International Underwriters Limited is an established leader in many of its chosen markets. Each of our business lines is run by a highly respected and experienced industry expert who possesses in-depth knowledge of the industries we serve and also an exceptional ability to create targeted product solutions.

REINSURANCE

Our reinsurance knowledge and relationships are extensive and span decades of experience. We focus on building long-term relationships with reinsurance partners who have track records for sound underwriting and who have experience that makes risk transfer a vital aspect of their business needs.

ABOUT US

groupUnited International Underwriters Limited is a diversified insurance holding company that provides carefully tailored underwriting solutions in select high-value-added markets. We have the ability to identify and respond swiftly to emerging opportunities and to operate across a wide range of geographies and specialist lines of business. United International Underwriters Limited is a Cayman exempted limited holding company that incorporated in 2016. We conduct insurance and reinsurance business through our principal operating subsidiary, United Insurance Company, an Aon managed company.

United International Underwriters Limited’s approach to the insurance markets is built on a foundation of effective risk mitigation strategies coupled with a robust knowledge of its clients’ goals and needs. We apply sound underwriting through experienced industry expertise and pride ourselves on sophisticated, targeted product structures and solutions. We attract insurance and reinsurance clients from around the world seeking flexible solutions for a wide variety of risks. We differentiate ourselves by creating innovative and customized solutions for complex risks.

OUR PHILOSOPHY

Who are we? We are practitioners of risk management.
What is Captive Insurance? Captive insurance is private insurance for a select and specific purpose.
Who are our clients? Our clients tend to have hard-to-place insurance needs that vary within the industry. We select our clients carefully, as they select and rely on us to handle very specialized services.
What is our focus? We have one singular focus: to deliver for our clients.

OUR BUSINESS

United International Underwriters Limited is a private exempted holding company registered and governed under the laws and regulations of the Cayman Islands. United International Underwriters Limited holds a segregated portfolio company (also called an SPC or a “cell”) within United SPC c/o Aon Insurance Managers.

United SPC was registered in 1988 under the Companies Law of the Cayman Islands as a segregated portfolio company. United SPC is a wholly owned subsidiary of United Insurance Company. United Insurance Company was originally established in 1975 to provide insurance, reinsurance, and pooling arrangements for captive insurers under Aon insurance managers. United Insurance Company is owned by several captive insurance companies, which are in turn owned by Fortune 500 companies in the US, Canada, the UK, and Europe.

United Insurance Company is rated A- (Excellent) by A.M. Best.

United International Underwriters Limited chose to form in the jurisdiction of the Cayman Islands for its

  • reputation
  • flexibility
  • tax neutrality
  • availability to world-class professional service providers
  • trustworthy and reliable legal system
  • compliance culture
  • stable and consistent business-oriented government

The Cayman Islands is the second-largest private captive insurance domicile on the planet, behind only Bermuda. Leading financial institutions, Fortune 500 companies, and private and public businesses from across the globe have chosen the Cayman Islands as their jurisdiction.

OUR RATING(S) PHILOSOPHY

A.M. BEST Company is different

A.M. Best is the only one out of the four major rating agencies (A.M. Best, Fitch, Moody’s and Standard & Poor’s) that focuses solely on the insurance industry and the credit quality of its industries’ obligations. It focuses on the transparent nature of insurance companies’ financial health and their ability to make good on the insurance policies they write.

The Insurance Information Institute provides the following overview of rating agencies in their article “How to Assess the Financial Strength of an Insurance Company”:

“Four independent agencies—A.M. Best, Fitch, Moody’s and Standard & Poor’s—rate the financial strength of insurance companies. Each has its own rating scale, its own rating standards, its own population of rated companies, and its own distribution of companies across its scale. Each agency uses numbers or plusses and minuses to indicate minor variations in rating from another rating class. The agencies disagree often enough so that you should consider a company’s rating from two or more agencies before judging whether to buy or keep a policy from that company.”

United International Underwriters Limited chooses to rely on the steadfast underwriting of the insurance industry and focuses on what it knows: insurance. Therefore, we operate under A.M. Best’s policies.

Unlike A.M. Best, the big three agencies Fitch, Moody’s, and Standard & Poor’s choose to underwrite and rate complex financial instruments such as “CDOs squared” and “synthetic CDOs” (the complex securities used to finance subprime mortgages that led to the 2007 global financial crisis. These securities could not have been sold without ratings by the big three rating agencies).

The “Final Report of the National Commission on the Causes of the Financial and Economic Crisis in the United States,” published in January 2011, notes that “the Financial Crisis Inquiry Commission was created to ‘examine the causes of the [2007 to 2010] financial and economic crisis in the United States.’ . . . The Commission was established as part of the Fraud Enforcement and Recovery Act (Public Law 111-21) passed by Congress and signed by the President in May 2009. . . .  for inquiry and . . . the examination of the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government.”

The commission concluded that “the failures of credit rating agencies were essential cogs in the wheel of financial destruction. The three credit rating agencies [Moody’s, Standard & Poor’s (S&P), and Fitch] were key enablers of the financial meltdown.”

Throughout this challenging time, all but one major insurer was deemed too big to fail — American Insurance Group (AIG). AIG repaid its $182 billion loan with $22.7 billion in interest in under three years. Fannie Mae and Freddie Mac, U.S. government backed and operated organizations, also deemed too big to fail, never recovered and are still funded by the American taxpayers.

Fitch, Moody’s, and Standard & Poor’s still choose to focus on rating both financial institutions (i.e., banks) on their complex securities and cover the insurance industries.

OUR RATING(s)

United Insurance Company
Syndication of Reinsurers
A.M. BEST Rating(s)
We are rated A- (Excellent) by A.M. Best.We provide reinsurance protection to many leading direct insurance companies for most of our business lines, in the form of annual treaties on proportional and non-proportional bases with a sizable underwriting capacity.Most of our reinsurance relationships hold a minimum of A- (Excellent) from A.M. Best.

OUR LINES OF BUSINESS

Facultative and Treaty

 

Alternative Energy Energy generation plants, hydro-electric power, and geothermal, solar, and wind energies
Credit Insurance Performance Guarantee
Surety Performance bond and financial guarantee bond
Specialty Lines General Liability

OUR APPROACH

Different situations require different solutions, which is why we consider all options before we decide on the best way forward — whether we’re planning our business strategies, weighing up a risk, or handling our clients’ claims.

Risk mitigation embodies the essence of what we do at United International Underwriters Limited, which makes us one of our industry’s leading experts in specialty insurance and reinsurance.

While United International Underwriters Limited is a relatively new company, our team’s experience and industry knowledge has been growing for decades.

Our focus on flexibility allows us to tailor innovative solutions for our clients and build long-term relationships that provide them with continuing value well into the future. That means getting to know our clients, their needs, and their challenges so we can provide them with the best possible products and services.

Risk improperly mitigated can be costly. Risks can cost human lives and cause property damage with consequent revenue or profit loss if not planned for and handled correctly.

Our reinsurance knowledge and relationships are extensive and span decades of experience. We focus on building long-term relationships with reinsurance partners who have track records and reputations for sound underwriting and have exposures that make risk transfer a vital aspect of their business needs.

We carefully choose where we apply our expertise and take an intellectual approach to everything we do as we continue to build a diversified and increasingly international business. We look at risk management not only as minimizing downside, but also as a way of actively adding management value to our investment portfolio. We also share our expertise with our clients by drawing on our skills and experience to offer informed opinions and insight, which provide an additional layer of value.

LINES OF BUSINESS(s)

Insurance Lines
Definition
A Performance bond“is issued to one party of a contract as a guarantee against the failure of the other party to meet obligations specified in the contract. It is also referred to as a contract bond. A performance bond is usually provided by a bank or an insurance company to make sure a contractor completes designated projects.” (Investopedia)
A Financial Guarantee Bond is “a non-cancellable indemnity bond that is backed by an insurer in order to guarantee investors that principal and interest payments will be made. Many insurance companies specialize in financial guarantees and similar products that are used by debt issuers as a way of attracting investors. The guarantee provides investors with an additional level of comfort that the investment will be repaid in the event that the securities issuer would not be able to fulfill the contractual obligation to make timely payments. It also lowers the cost of financing for issuers because the guarantee typically earns the security a higher credit rating and therefore lower interest rates.” (Investopedia)
A Performance Guarantee is “a business agreement between a client and a contractor for the contractor to perform all of their obligations under the contract. A performance guarantee might also include a clause to protect the client against losses incurred in case the contractor fails to perform and enforcement action is required or an alternative contractor needs to be engaged.” (Business Dictionary)
General Liabilityis “insurance protecting commercial insureds from most liability exposures other than automobile and professional liability” (IRMI) or an “insurance policy that covers claims arising from an insured's liability due to damage or injury (caused by negligence or acts of omission) during performance of his or her duties or business.” (Business Dictionary)

OUR APPROACH TO BONDING

United International Underwriters Limited is an established leader in many of its chosen markets. Each of our business lines is run by a highly respected and experienced industry expert who possesses in-depth knowledge of the industries we serve and also an exceptional ability to create targeted product solutions.

United International Underwriters Limited’s approach to the insurance markets is built on a foundation of effective risk mitigation strategies coupled with a robust knowledge of its clients’ goals and needs.

We apply sound underwriting through experienced industry expertise and pride ourselves on sophisticated, targeted product structures and solutions. We attract insurance and reinsurance clients from around the world seeking flexible solutions for a wide variety of risks.

We differentiate ourselves by creating innovative and customized solutions to complex risks.

94 Solaris Avenue, 2nd Floor Camana Bay
P.O. Box 69 Grand Cayman KY1-1102
Cayman Islands.

Toll Free: +1.866.213.2858

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