November 2015: The Alpha Re group forms Alpha Re (U.S.) Inc., an insurance company organized under the captive insurance laws of the state of Vermont. Established as a protected cell company, Alpha Re (U.S.) will add further capabilities to the group.
February 2013: Alpha Re closes its first long term care transaction, assuming a closed block of active life reserves protected by existing morbidity reinsurance. The transaction improves the statutory surplus and risk-based capital levels of the ceding insurer.
July 2012: Alpha Re Holdings (Cayman) Ltd. raises $22 million in a private debt offering. The proceeds of the offering will allow the company to support additional reinsurance transactions.
June 2012: Alpha Re closes its largest reinsurance transaction to date, assuming a block of pre-need life insurance previously reinsured by a Bermuda reinsurer. This novation transaction allows the Bermuda company to release significant capital to its parent.
April 2011: Alpha Re Limited closes first reinsurance transactions, assuming two blocks of disability claim reserves from subsidiaries of a major Blue Cross Blue Shield organization. The transaction allows the ceding insurers to improve their statutory surplus position and, in conjunction with a transfer of claim servicing to a leading third-party administrator, removes the mortality, morbidity, and expense risks from the balance sheet.
April 2011: Alpha Re Limited is pleased to announce that the Cayman Islands Monetary Authority has approved the issuance of an Unrestricted Class B Insurer’s License to Alpha Re Limited, pursuant to the Insurance Law (2008 Revision).
February 2011: Alpha Re Limited is incorporated in the Cayman Islands under the Companies Law.