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


Proportional sharing of premium, losses and expenses