Updates

Important Updates

The Shareholder and Board of Directors of Kelvin Re Limited for strategic reasons have resolved at a Board meeting on 2nd December 2020 not to underwrite any further business and pursue a controlled exit. The business of Kelvin Re remains solvent and strongly capitalised:

  • 99.6 AM Best BCAR Published by AM Best in April 2020 for 31 December 2019 - 67.9% 1
  • 99.6 AM Best BCAR calculated by Kelvin Re at July 2020 for forecast year end 2020 - 59.7% 2
  • GFSC Minimum Capital Requirement at 31 October 2020 – 2,376% 2
  • GFSC Prescribed Capital Requirement at 31 October 2020 – 354% 2
  • Net Profit at 31 December 2020- USD 104.7m2 
  • Net Assets at 31 December 2020- USD 1,038.8m2
  • Net Assets at 31 December 2019 - USD 934.1m 3

Note:
1 As published by AM Best in their latest press release
2 Source Kelvin Re Ltd management information and modelling, not audited
3 Source Kelvin Re Ltd financial statements as audited

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