Project BeachcomberWire 

 

Business Overview

Project Beachcomber or (the “Company”) is an Attorney-in-Fact and management company for a “shell” Risk Retention Group that was established to provide general and professional liability coverage to long term senior care facilities nationwide. The Company was started in 2017, is approved in all states, and operates in 9 states. The Company and RRG have all requisite licenses and contracts in place to write new business. The RRG has no written premium and no legacy liabilities. The Company is offered for sale in a single transaction for 100% of the membership interests of the LLC.

Key Contracts –

  •  Program Management Agreement
    – Management Agreement empowers Manager to reimbursable start-up costs.
    – Management fee is 24% gross written premium of the RRG.
    – 60-Month term with 40-months remaining.
    – Stringent features provide the program manager contract protection and longevity.
    – The acquiring program manager has the flexibility to secure their own service contracts.

 

  • Captive Management Agreement
    – 60-Month term with 40-months remaining.
    – Captive manager fee is greater of 3% of gross written premium or $75k paid outside the 24%program managers fee.

 

  • Policyholders Service Agreement
    – 60-Month term with 40-months remaining.
    – Policy administrator is 3% of gross written premium

Risk Retention Group –

Domiciled: North Carolina
Demotech Rating: “A”
The company is licensed in North Carolina. It is authorized in all other states under Federal Liability Risk Retention Act and operates in FL, GA, IL, IA, NC, OH, SC, TX, and VA.

Process

Execute Non-Disclosure Agreement

Review of Briefing Book and Data Room

Follow up Questions and Interviews

Letter of Intent

Due Diligence and Closing

 

Additional Information –

For more information on this opportunity please contact:

Merger & Acquisition Services, Inc.

Christopher M. Hughes

chughes@maservices.com

(860)748-1910

 

Trevor Murgio

tmurgio@maservices.com

(561)948-1229

To learn more about Merger & Acquisition Services, visit https://maservices.com.

info@maservices.com
https://maservices.com