Strategy International Insurance Group, Inc. announced from its Toronto office that it has been named by Value Guaranteed Vacations Inc. (VGV Inc.) as the exclusive insurer for its affinity program, the VGV(TM) Program.
Coverage will be provided through two of its subsidiary companies – Strategy Holding Company Limited and Strategy Insurance Limited, a provider of specialty lines of insurance, reinsurance and structured risk underwriting focusing on credit risk and credit enhancement.
Strategy explained that “VGV Inc. introduced its innovative affinity program to the North American timeshare industry in April 2004. As one of its many benefits, the VGV(TM) Program includes a buy-back option which allows timeshare owners to re-sell their timeshare interest to VGV Inc. at the end of 10, 15 or 20 years for up to 95 percent of the initial purchase price.” Strategy becomes the exclusive underwriter for the VGV(TM) Program, which it expects to generate $50 Million in premium income in the 2006 calendar year.
Commenting on the announcement, Strategy International Chairman Stephen Stonhill stated: “Strategy Insurance Limited is exceptionally pleased to underwrite the VGV(TM) Program, which has already been very successful with major timeshare developers, and is confident that this momentum will continue in the coming year.”
Strategy Insurance Limited is a Barbados-formed and licensed provider of specialty lines of insurance, reinsurance and structured risk underwriting, focusing on credit risk and credit enhancement, is a wholly-owned subsidiary of Strategy Holding Company Limited, a Barbados company which is itself a wholly-owned subsidiary of Strategy International Insurance Group, Inc. It conducts its insurance and reinsurance operations principally through its subsidiary incorporated in Barbados, West Indies. Strategy has offices in Barbados, London and Toronto.