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Global Reinsurance Corporation of America
Global Reinsurance Corporation of America is a US-based insurance company with headquarters in New York. It oversees approximately $268 million in assets...
Global Reinsurance Corporation of America
Global Reinsurance Corporation of America is a US-based insurance company with headquarters in New York. It oversees approximately $268 million in assets across three funds, primarily focused on North America.
General information
Firm type
Insurance
Year founded
1963
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Sector focus
Frequently asked questions
Does Global Reinsurance Corporation of America still underwrite new policies?
No. GRCA ceased active underwriting and now operates exclusively as a legacy runoff platform. Its sole function is to manage and settle incurred claims from its historical book of casualty and property reinsurance business until all liabilities are extinguished.
Who ultimately owns and controls Global Reinsurance Corporation of America?
Since 2019, GRCA has been a wholly-owned subsidiary of Randall & Quilter Investment Holdings Ltd., a publicly traded legacy insurance acquisition and management specialist. Prior to R&Q, the entity was held by AXA Liabilities Managers, a legacy unit of the AXA Group.
What types of assets does GRCA hold to back its runoff liabilities?
The investment portfolio is structured to prioritize capital preservation and stable income to meet claims obligations. The primary sleeves include a statutory bond portfolio, a diversified common stock portfolio, and a book of mortgage loans on real estate, which includes mixed-use property exposure.
How does GRCA source returns as a runoff entity?
As a closed book, GRCA does not grow via new premiums. Value is generated by managing claims costs below initial actuarial projections, securing commutations at favorable rates, prudently investing statutory reserves, and ultimately releasing surplus capital back to its parent, R&Q, once all liabilities are satisfied.
What is the relationship between GRCA and the original Gerling Global Reinsurance Group?
GRCA was originally founded as the US domestic reinsurance platform for the Gerling Global Reinsurance Group of Germany. Over decades, ownership migrated through a series of legacy consolidators — from Gerling to AXA, and ultimately to Randall & Quilter — while the core portfolio of US long-tail liabilities remained with the New York entity.
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