Brian S. Webb, Director of Novus Management Ltd., announced that the Bermuda Monetary Authority has given their approval to the formation of Lyon’s Gate Reinsurance Company, Ltd. as an exempt reinsurance company.
“Lyon’s Gate Re will seek to achieve a market leading role as an independent facilitator primarily of rent-a-captive placements for prospects and clients,” explained Nicholas D. Gerber, founder and portfolio manager for Ameristock Funds, an affiliate of Lyon’s Gate Re. “Its principles are grounded on those upon which we have built Ameristock’s reputation – if you manage risk instead of return, the return will take care of itself.”
The bulletin also announced the following executive appointments:
— Harry Tipper, III was appointed President and CEO. He has more than three decades experience in the insurance and reinsurance industry with the Duncanson & Holt Group, the Zurich-American Insurance Group, and General Reinsurance Corporation.
— Nicholas D. Gerber was appointed Vice President and Chief Investment Officer. He is a founder of Ameristock Corporation and co-manager of the Ameristock Mutual Fund and the Ameristock Focused Value Fund and has more than two decades experience in institutional investment and trading.
— Charles W. Kimball was appointed Vice President and Chief Underwriting Officer. He has more than two decades experience in insurance with such companies as the American International Group, the Fireman’s Fund Insurance Company, and the Zurich-American Insurance Group.
Gerber noted: “At Ameristock, we look for smart management, solid, long-term goals and strength in numbers. We invest in the companies and institutions that make our economy work. That is why forming Lyon’s Gate Re and inviting Harry Tipper and his team to manage the company is so exciting for us.”
Tipper commented: “With Lyon’s Gate Re, we have created an unique resource for the insurance industry. We have combined a traditional segregated cell, rent-a-captive facility with extraordinarily savvy investment knowledge and an ability to facilitate the transaction through risk assumption. Those capabilities coupled with true independence will make Lyon’s Gate Re attractive to prospective clients.”
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