Sunset Brands, Inc. DBA Sunset Capital Assets (OTC: SSBN), Announces Sunset Capital Assurance, Segregated Portfolio Company
May 08 2014 - 9:27AM
Marketwired
Sunset Brands, Inc. DBA Sunset Capital Assets (OTC: SSBN),
Announces Sunset Capital Assurance, Segregated Portfolio Company
JACKSONVILLE, FL--(Marketwired - May 8, 2014) - Sunset Capital
Assets, Inc. (OTC: SSBN), a Nevada corporation, traded on the Over
the Counter (OTC) markets "pink sheets" as SSBN, announced today
the Company is forming and licensing its first Captive Insurance
Company, Sunset Capital Assurance, SPC. The Company is being formed
through its subsidiary company Alternative Risk Concepts, LLC
(ARC). Sunset Capital Assurance, SPC will be a Segregated Portfolio
Company domiciled in the Cayman Islands for the purpose of
developing other Segregated Portfolios or cell captives within the
company.
The first captive cell to be licensed will provide workers'
compensation coverage to the staffing industry with premium
estimates in excess of $20 million within the first three years.
Other captive cells are in various stages of development and
represent several different industries and lines of insurance
coverage.
Monica Thomason, principal of ARC, states, "We firmly believe
it's time we bring the benefits of captives to small and mid-sized
organizations. We are excited to be able to offer affordable and
flexible options to companies looking to create better, more
cost-effective risk management and insurance programs. One of the
unique advantages of the Sunset Capital captive is the expertise
and resources we offer in the development of startup programs and
the capacity to partner with our clients and take risk with them.
This option allows us to provide real, value-added services to our
clients and to distinguish our offerings from others in the
alternative risk market."
The alternative risk market, and captives in particular,
continue to be a popular means of risk financing for business
insurance, with an estimated 40 percent of major U.S. corporations
and many multinational companies owning one or more captives.
Thomason states, "In many cases the traditional marketplace fails
to respond to the needs of certain groups of businesses. We are
looking to fill that void and offer an alternative to the
traditional insurance marketplace and cater to those companies that
are looking to control their own destiny by providing risk
management services and being rewarded with potential significant
underwriting profits from lower loss ratios."
Bert Watson, Sr., Chairman of Sunset Capital Assets, comments,
"We are extremely enthusiastic about the synergies the captive
market brings to Sunset Capital Assets' business model. The
incremental benefits and expertise this revenue source will bring
to our partners, joint ventures, clients and financial platform of
services is very appealing. Our projections estimate Sunset Capital
Assurance will add $11.5 million in earnings per year to our
firm."
Sunset Capital Assets, Inc. is a diversified financial services
firm focusing on acquisition and investment in banks, mortgage
companies, real estate, title insurance, insurance, auto sales and
financing, commercial financing, investment banking, and management
consulting service primarily in the Southeast United States.
This press release includes forward-looking statements
intended to qualify for the safe harbor from liability established
by the Private Securities Litigation Reform Act of 1995. Our
forward-looking statements express our current expectations or
forecasts of possible future results or events, including
projections of future performance, statements of management's plans
and objectives, future contracts, and forecasts of trends and other
matters. Forward-looking statements speak only as of the date of
this filing, and we undertake no obligation to update or revise
such statements to reflect new circumstances or unanticipated
events as they occur. You can identify these statements by the fact
that they do not relate strictly to historic or current facts and
often use words such as "anticipate," "estimate," "expect,"
"believe," "will likely result," "outlook," "project" and other
words and expressions of similar meaning. No assurance can be given
that the results in any forward-looking statements will be achieved
and actual results could be affected by one or more factors, which
could cause them to differ materially. For these statements, we
claim the protection of the safe harbor for forward-looking
statements contained in the Private Securities Litigation Reform
Act.
SSBN CONTACT: Jeffrey S. Betros Investor Relations
Sunset Capital Assets, Inc. 904-436-6217
jbetros@sunsetcap.net
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