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Acquired organisation is a Massachusetts-domiciled insurer licensed in all 50 US states, as well as DC, Puerto Rico and Canada

Deal involves RMIC Companies Inc and its subsidiaries

Bermudian-domiciled international specialty reinsurance group has 2023 profit after tax of $279 million

The companies are single-parent captives of The Bank of New York Mellon Corporation

Bermudian-based company and others bought a ten per cent common equity interest

New alignment has three business segments -- large commercial, mid-market and professional

The company said the deal covers in-force whole-of-life policies

The company is the parent of Palomar Specialty Reinsurance Company Bermuda Ltd

Agency also affirmed the ratings of the Bermudian-based company

Policy underwritten by the company helped enable the airline to efficiently acquire and finance the new fuel-efficient A350-1000 aircraft