Verdant Rock Limited, a Bermuda‑based Class 3B insurer and financial guarantor focusing on emerging markets, has closed a 30% quota share reinsurance treaty with a panel of leading global reinsurers, which carry an average financial strength rating of A+ from either AM Best or S&P.
Designed to support Verdant Rock’s portfolio of irrevocable, unconditional and on-demand financial guarantees for private corporate, structured and project finance risks in emerging markets, the treaty allows the company to share 30% of risk with highly rated capacity providers.
This move further strengthens Verdant Rock’s balance sheet, diversifies its capital base and enhances scalability for future growth.
Tolga Uzuner, Co-Founder, Chief Executive Officer, Verdant Rock Limited, commented: “Securing a reinsurance panel of this calibre, rated A+ on average, at this stage of our development is a strong validation of our underwriting framework and our approach to governance.
“Every guarantee Verdant Rock issues now carries an additional layer of security from counterparties that have spent time understanding and believing in what we are building. We are grateful to each panel member for their confidence in us.”
This reinsurance treaty marks a significant milestone for the company less than a year after receiving its Class 3B insurance license from the Bermuda Monetary Authority.
Global broking group Aon’s Reinsurance Solutions was appointed to advise Verdant Rock on this reinsurance agreement.
Rupert Evans, International Head of Credit and Financial Risks, Reinsurance, at Aon, said: “We are delighted to have worked with Verdant Rock to bring a truly innovative and diversifying new product to the credit insurance market, which has been whole-heartedly supported by such a strong cohort of the credit reinsurance market.”
