Bay Harbor Re expands letter of credit facility to $150m

Bay Harbor Reinsurance Company, a reinsurer focused on the US Property and Casualty program marketplace, has announced the expansion of its letter of credit facility to $150 million with Comerica Bank.

This increase highlights the company’s financial stability and ongoing commitment to providing long-lasting, bespoke solutions that cater to the unique needs of its clients, the reinsurer stated.

Keith Plummer, President of Bay Harbor, said: “Our enhanced credit facility with Comerica Bank strengthens our ability to support reinsurance programs and provide stability to our partners, including insurance carriers, MGAs, and captives.

“It allows us to maintain the financial flexibility required to pursue growth opportunities while ensuring we continue to meet the needs of our cedants and brokers.”

Based in the Cayman Islands with offices in Florida, Bay Harbor Reinsurance Company delivers a flexible and comprehensive reinsurance approach, leveraging deep industry expertise to create tailored solutions for risk management.

The reinsurer maintains a strong financial position with secured credit facilities from trusted NAIC-approved banking partners.

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