zIngenuity Announces Acquisition of Irwin Reinsurance Corporation – NMP Skip to main content

zIngenuity Announces Acquisition of Irwin Reinsurance Corporation

NationalMortgageProfessional.com
Jun 19, 2013

zIngenuity Inc. has acquired Irwin Reinsurance Corporation, a Vermont-based captive reinsurance company and has merged it into zInsureRe Inc., a Cayman Islands-based, indirect wholly-owned subsidiary of zIngenuity. “We established zInsureRe in 2012 to serve as an acquisition vehicle for lender captives that are in run-off. Earlier this year we completed another acquisition and continue to actively bid as the sole acquirer on smaller sized transactions and in partnership with private investors for deals with asset sizes in excess of $10 million,” said Steve Beagles, managing director of zIngenuity. In addition to zIngenuity’s investment division activities, the firm continues to grow its service offerings in mortgage fulfillment and quality control audits in response to changes in the market and in support of client needs. “Recent CFPB mortgage insurance company settlements have made future commutations highly unlikely, leaving a lender with little option beyond a lengthy run-off. We provide lenders with an attractive monetization alternative and have developed a standardized bid package which allows us to quickly evaluate and bid on captives of all sizes at a time when no active market exists,” said David Reber, president and CEO of zIngenuity.  
Published
Jun 19, 2013