UK Markets closed
  • NIKKEI 225

    29,683.09
    +84.43 (+0.29%)
     
  • HANG SENG

    25,319.72
    -330.36 (-1.29%)
     
  • GOLD FUTURES

    1,861.20
    -0.20 (-0.01%)
     
  • DOW

    35,870.95
    -60.10 (-0.17%)
     
  • BTC-GBP

    43,760.22
    +1,129.21 (+2.65%)
     
  • CMC Crypto 200

    1,402.14
    -65.80 (-4.48%)
     
  • Nasdaq

    15,993.71
    +72.14 (+0.45%)
     
  • ^FTAS

    4,152.80
    -11.97 (-0.29%)
     

Taussig Capital Announces the Acquisition of Spencer Re I.I.; New Entity to Be Rebranded as Taussig Capital Re

·2-min read

SAN JUAN, Puerto Rico, October 18, 2021--(BUSINESS WIRE)--Taussig Capital announces the acquisition of all of the voting shares of Spencer Re I.I., an International Insurance Company founded in 2006 and licensed in Puerto Rico.

Joseph Taussig, CEO of Taussig Capital, founded Spencer Re 16 years ago and served as its chairman until 2014. The company is being re-branded as Taussig Capital Re and will offer reinsurance to primary insurers and reinsurers looking to optimize their reinsurance programs and access non-traditional sources of insurance capital.

Taussig Capital Re is able to segregate pools of assets and liabilities, creating unique opportunities for exposure to a broad spectrum of insurable risks and a flexible platform for insurers and reinsurers.

"We are incredibly excited about the opportunities that a combined Taussig-Spencer deal brings to the marketplace," said Taussig. "Insurers and reinsurers will now have a new tool to help them competitively manage risks. Furthermore, being licensed in Puerto Rico provides a number of unique advantages from both a legal and regulatory perspective. Not only is Puerto Rico the only offshore insurance center to be a part of the US federal court system, it also a member of the US National Association of Insurance Commissioners (NAIC) – the industry’s regulatory standard-setting body."

Bringing Non-Traditional Capital Solutions to the Insurance Market

In addition to risk management, Taussig Capital Re will specialize in providing non-traditional capital sources for insurers and reinsurers, providing bespoke solutions to companies looking to restructure their legacy insurance programs including ‘captive insurance’ programs.

"This represents the next step in the evolution of the structure of the insurance industry," he added. "Taussig Capital Re will provide insurance products that will assist in safe-guarding those companies’ risks while allowing them to redeploy capital back into their primary businesses."

About Taussig Capital

For more than two decades, Taussig Capital has been an innovation leader in the insurance industry. Through its pioneering approaches to risk management and ability to bring alternative sources of capital, Taussig delivers custom solutions and attractive investment returns to both purchasers and providers of insurance and reinsurance.

For more information visit www.taussigcapitalholdings.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211018005688/en/

Contacts

JD David
MJ Hudson
844.639.5371, ext. 702
jd.david@mjhudson.com

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting