Mortgage industry consulting firm zIngenuity has acquired Irwin Reinsurance Corp., a Vermont-domiciled captive reinsurance firm, and merged it into what it describes as a an indirect subsidiary called zInsureRe in the Cayman Islands that it has been using as an acquisition vehicle for captives in runoff.
Steve Beagles, managing director of zIngenuity, said in a press release that it also has completed at least one other acquisition and continues to actively bid as sole acquirer “on smaller sized transactions and in partnership with private investors for deals with assets sizes in excess of $10 million.”
David Reber, president and CEO of zIngenuity, said in the press release that recent
“We provide lenders with an attractive monetization alternative and have developed a standardized bid package which allows us to quickly evaluate and bid on captives at a time when no active market exists,” he said.
