Maumee Valley Re, Ltd.
Maumee Valley Re, Ltd. (MVRe) is a Class 3 reinsurer created under and regulated by the Bermuda Monetary Authority (BMA) and is the only reinsurer of the Ohio School Plan that is not rated by A.M. Best. MVRe, a wholly owned subsidiary of Hylant Group, Inc., was created in 2002 to comply with the requirement of the various OSP reinsurers that the administrator share in the reinsurance risk associated with the OSP. MVRe has elected and been granted a 953(d) election by the Internal Revenue Service (IRS). This election allows MVRe to be taxed as a United States domestic corporation. As such, MVRe pays applicable US federal income taxes due to the IRS annually. MVRe's participation as a reinsurer was approved by the Ohio School Plan Board of Directors.
MVRe assumes a 10% share of the first $1,000,000 of auto and casualty limits has a maximum risk exposure of $100,000 on any one loss.
As of 12/31/2011, MVRe has $6.3 million of assets and $3.6 million of surplus and is in compliance with the statutory requirements established and monitored by the BMA.
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