Continuum of Capital
Together Maiden and IRC offer a continuum of solutions designed to meet the capital and risk management needs of mid-sized insurance companies.
Tier 1
- Tier 1 must make up a min of 50% of the SCR
- Sub debt can make up a max 20% of the Tier 1
- Tier 1 sub debt is issued for a min of 30 year non call 5
Tier 2
- Tier 2 can make up the remaining 50% of the SCR
- Tier 2 sub debt can be a 10 year bullet or a 10NC5
- The proportion of Tier 2 must be greater than that of Tier 3
Tier 3
- Tier 3 must not be greater than 15% of the SCR
- Tier 3 sub debt is issued for a minimum of a 3 year bullet
QSR
Proportional sharing of premium, losses and expenses
