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About ACP Re

ACP Re is a Bermuda based reinsurance company. The controlling shareholder of ACP Re is a trust established by the founder of AmTrust Financial Services, National General Holdings Corporation and Maiden Holdings.

ACP Re Headquarter Location

Bermuda

Latest ACP Re News

NATIONAL GENERAL HOLDINGS CORP. : Entry into a Material Definitive Agreement, Other Events (form 8-K)

Jul 29, 2016

limited liability company owned by the Trust;• The Trust will cause ACP Re Holdings, LLC to maintain assets having a value greater than 115% of the value of the then outstanding loan balance, and if there is a shortfall, the Trust will make a contribution to ACP Re Holdings, LLC of assets having a market value of at least the shortfall (the "Maintenance Covenant");• The amounts borrowed will be secured by equity interests, cash and cash equivalents, other investments held by ACP Re Holdings, LLC and proceeds of the foregoing in an amount equal to the requirements of the Maintenance Covenant;• The maturity date will change from September 15, 2021 to the twentieth anniversary of the date on which the restatement becomes effective;• Interest on the outstanding principal balance of $250 million will change from a fixed annual rate of 7% (payable in cash, semi-annually in arrears) to a fixed annual rate of 3.7% (payable in cash, semi-annually in arrears), provided that up to 1.2% thereof may be paid in kind;• Commencing on the tenth anniversary of the date on which the restatement becomes effective, and for each year thereafter, two percent of the then outstanding principal balance of the loan (inclusive of any amounts previously paid in kind) will be due and payable;• At the Lenders' discretion, ACP Re Holdings, LLC may repay the loan using cash or tradeable stock of an equivalent market value of any publicly traded company on the NYSE

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ACP Re Patents

ACP Re has filed 10 patents.

patents chart

Application Date

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Status

5/29/2013

10/24/2017

Application programming interfaces, Ovens, Microwave technology, Cooking appliances, Vacuum tubes

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5/29/2013

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Grant Date

10/24/2017

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Related Topics

Application programming interfaces, Ovens, Microwave technology, Cooking appliances, Vacuum tubes

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Status

Grant

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