Investment-oriented, or hedge fund strategy following, reinsurance company Till Capital has successfully achieved its goal of listing on a U.S. exchange, with the announcement today that its shares are tobegin trading on the Nasdaq Capital Market.
Till Capital, formed by joining hedge fund strategy reinsurance firm Resource Holdings, resource royalties focused investors Americas Bullion Royalty Corp. and Bill Lupien’s hedge fund Kudu Partners L.P. in 2014.
Till Capital participates, through its Class 3A Bermuda reinsurance vehicle Resource Re, in the Multi-Strat Re platform, which enables asset managers to more easily set up and run their own investment oriented, or hedge fund strategic, reinsurers.
Till Capital’s shares will begin trading on the Nasdaq Capital Market, from 26th May, under the ticker symbol “TIL”.
“We are extremely pleased to be listed on the Nasdaq Stock Market, an important step in our overall corporate strategy to build awareness of Till Capital within the U.S. investment community,” commented William M. Sheriff, Chairman & Chief Executive Officer.
“This listing is an integral step in the success of the Company, giving us access to the world’s largest investment community. As an innovative financial company, we will benefit substantially from the greater liquidity and investor awareness that comes from listing on the prestigious Nasdaq exchange,” Sheriff continued
It’s been a busy year for Till Capital as it transitions to an investment oriented insurer and reinsurer platform, seeking to leverage insurance and reinsurance premium float within its hedge fund type strategies.
“This listing adds to the many recent milestones achieved by Till, including the transition to a reinsurance company, the acquisition of Omega Insurance Holdings Inc. and the implementation of our unique investment strategy,” Sheriff commented.
Till Capital recently added a new insurance business to the company, acquiring Omega Insurance, a provider of run-off solutions for Canadian insurance and reinsurance businesses, as well as customised insurance and fronting arrangements for those wanting to access the Canadian market.
The acquisition completed recently, giving Till Capital control of Omega and around $40m of insurance assets it currently manages. The acquisition will also give Till Capital better access to insurance premiums from Canada and the ability to build its premium float assets more rapidly.