Aurigen Capital Limited has announced it has filed a preliminary prospectus with securities regulatory authorities in each of the provinces and territories in Canada in connection with a proposed initial public offering of its common shares.

According to an Aurigen press release, the proposed offering is being made through a syndicate of underwriters led by RBC Capital Markets, Canaccord Genuity Corp. and TD Securities.

Aurigen’s core business is reinsurance of individual life insurance policies. Its release stated: “The company’s vision is to develop as a leading life reinsurer providing innovative and customised risk and capital management solutions to enterprises exposed to biometric risks, such as mortality and morbidity, and other related risks.”

Aurigen said it is licensed to transact life reinsurance in Canada, the United States and Bermuda and has a life reinsurance in force portfolio of approximately $36 billion and consolidated assets in excess of $400 million.

“Each of Aurigen’s operating life reinsurance companies has a financial strength rating of “A- (Stable)” from A.M. Best Company Inc.”

Useful website: www.AurigenRe.com and www.sedar.com.