Strategy International I... (CE) (USOTC:SGYI)
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Strategy International Insurance Group, Inc.
(OTCBB:SGYI), through its wholly owned subsidiary, Strategy Holding
Company Limited, through its wholly owned subsidiary, Strategy
Insurance Limited, a provider of specialty lines of insurance,
reinsurance and structured risk underwriting focusing on credit risk
and credit enhancement, announced today that it has been retained by
Value Guaranteed Vacations Inc. (VGV Inc.) as the exclusive insurer
for VGV Inc.'s affinity program, the VGV(TM) Program.
VGV Inc. introduced its innovative affinity program to the North
American timeshare industry in April 2004. As one of its many
benefits, the VGV(TM) Program includes a buy-back option which allows
timeshare owners to re-sell their timeshare interest to VGV Inc. at
the end of 10, 15 or 20 years for up to 95% of the initial purchase
price.
As the exclusive underwriter for the VGV(TM) Program, Strategy
Insurance Limited estimates that it will generate $50 Million in
premium income in the 2006 calendar year.
Commenting on the announcement, Stephen Stonhill, Chairman of
Strategy International Insurance Group, Inc. stated, "Strategy
Insurance Limited is exceptionally pleased to underwrite the VGV(TM)
Program, which has already been very successful with major timeshare
developers, and is confident that this momentum will continue in the
coming year."
About Strategy International Insurance Group, Inc.
Strategy Insurance Limited ("Strategy"), a Barbados-formed and
licensed provider of specialty lines of insurance, reinsurance and
structured risk underwriting, focusing on credit risk and credit
enhancement, is a wholly-owned subsidiary of Strategy Holding Company
Limited, a Barbados company which is itself a wholly-owned subsidiary
of Strategy International Insurance Group, Inc. (OTCBB:SGYI). Strategy
conducts its insurance and reinsurance operations principally through
its subsidiary incorporated in Barbados, West Indies. Strategy has
offices in Barbados, London and Toronto. As of January 31, 2005,
Strategy international had approximately $158 million of assets on its
balance sheet which gives the company the ability to write gross
premiums in excess of $300 million while maintaining a conservative
writings to assets ratio.
About Value Guaranteed Vacations Inc.
Value Guaranteed Vacations Inc. (VGV Inc.), a wholly-owned
subsidiary of RS Group of Companies, Inc. (OTCBB:RSGC) offers an
affinity program that provides, as one of its benefits, a put option
which gives timeshare owners who become VGV(TM) Program members the
right to sell their timeshare interest, excluding VGV(TM) Program
membership fees and applicable taxes. This non-transferable timeshare
interest put option provides a ready-buyer should a timeshare owner
wish to sell his or her timeshare interest. VGV Inc.'s purchase
obligations are backed by, among other things, insurance, which may be
provided by affiliates of VGV Inc. The VGV(TM) Program also offers
timeshare owners who become members other benefits, such as a no-fee
credit card and travel related discounts. This membership program is
in the process of being marketed to large timeshare developers and
promoters who will, in turn, offer the program to existing and
prospective timeshare owners.
Forward-Looking Statement
Statements included in this press release which are not historical
in nature, are intended to be, and are hereby identified as "Forward
Looking Statements" for purposes of safe harbor provided by Section
21E of the Securities Exchange Act of 1934, as amended. Forward
Looking Statements may be identified by words including "anticipate",
"await", envision", "foresee", "aim at", "believe", "intends",
estimates" including without limitation, those relating to the
company's future business prospects, are subject to certain risks and
uncertainties that could cause actual results to differ materially
from those indicated in the Forward Looking Statements. Readers are
directed to the company's filings with the U.S. Securities and
Exchange Commission for additional information and a presentation of
the risks and uncertainties that may affect the company's business and
results of operations.
Strategy International Insurance Group, Inc. (OTC Bulletin
Board:SGYI)