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Here
are some of our capabilities:
•
Reinsurance Trusts
• Letters of Credit
• Deposit Accounts
• Investment Management Services
• United States and Foreign Office Capabilities
Reinsurance
Trusts
Reinsurance
Trusts are replacing letters of credit as the preferred
collateral for fronting companies. Fifth Third Bank clients
may elect to use cash, certificates of deposit and/or marketable
securities as collateral. There are no annual fees for Reinsurance
Trust Accounts secured by cash deposits at Fifth Third Bank
and the Reinsurance Trusts Accounts will earn a very competitive
rate of interest. A set-up fee may apply and will vary depending
upon the complexity of the transaction.
Letters
of Credit
Letters
of Credit are still the most common form of collateral requested
by fronting companies. Fifth Third Bank has been awarded
a credit rating of AA- by Standard & Poor’s, which
ensures that our LOC’s will be widely accepted by
ceding insurance companies.
Deposit
Accounts
Fifth
Third Bank offers premium rates of interest on its deposit
accounts, perfect for captives with either a conservative
investment philosophy or those captives seeking to maximize
yield while minimizing letter of credit collateral requirements.
Investment
Management Services
Fifth
Third Asset Management, Inc. (FTAM) provides comprehensive
advisory services suitable for captive insurance companies.
FTAM offers a broadly diversified asset management product
line utilizing proprietary mutual funds, commingled funds,
and separate accounts. Through teams of experienced and
knowledgeable investment professionals, advanced research
resources and disciplined investment processes, our goal
is two-fold: produce superior, long-term investment results
and client satisfaction.
United
States and Foreign Office Capabilities
We have
the capability to work in all the major United States and
Foreign domiciles including Vermont, Nevada, Arizona, the
Cayman Islands and Bermuda. Offshore captives may elect
to invest their assets in liquid Eurodollar deposits held
at Fifth Third Bank’s Cayman Islands Branch.
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