The Preferred Risk Transfer (Rent-a-Captive) Program

Uberrimae Fidei Insurance Company Ltd. (UFIC) is a risk transfer company providing maximum benefits and protections for its clients.


• UFIC is a dedicated rent-a-captive facility subject to the Uberrimae Fidei Insurance Company Ltd. (Separate Accounts) Act 2002 enacted by the Queen’s Excellent Majesty, by and with the advice and consent of the Senate and the house of Assembly of Bermuda. Each participant’s program is legally segregated from other programs thus making the separation between participants unassailable. As such, no participant’s fund can be used to pay losses of another participant.

• UFIC normally underwrites policies on a secured basis. The Program participation is usually by way of reinsurance of a U.S. Insurance company whereby the U.S. insurance regulations require reinsurers to secure loss reserves. Assets are held in segregated reserve accounts, including Trust Accounts for premium and loss reserves in compliance with reg. 114 (NY) & 922 (CA) and other trust and/or escrow account funds, letters of credit, policies of reinsurance or other accredited and approved securities. Thus UFIC represents the strongest of reinsurance company security, with the liabilities fully secured and assets held in segregated accounts.

The UFIC un-bundled program provides an immediate competitive service, ensuring full confidentiality, and ease of entry. The Preferred Risk Transfer program provides an environment allowing the Client / UFIC to focus on risk management, risk assumption, underwriting and investment income participation, longevity of cover through restrictive underwriting cycles, control and independent accountability. The Client/Insured participates fully in underwriting and investment income profits by way of a Participation Agreement.