Corporate Profile

Our Company

American Overseas Group Limited (“AOG” or the “Company”), formerly RAM Holdings Ltd. was founded in 1998. We conduct substantially all of our operations through our wholly-owned subsidiary, American Overseas Reinsurance Company Limited (“AORE”), formerly RAM Reinsurance Company, Ltd. We changed the names of AOG and AORE on December 2, 2011, in connection with our initiative to become a specialty property/casualty reinsurer. All references to the business of AOG, the Company and AORE refer to the activities historically conducted under the "RAM" and "RAM Re" names where the context so requires.

AOG was originally established as a Bermuda-based provider of financial guaranty reinsurance. In 2008, we discontinued writing financial guaranty reinsurance and embarked upon efforts to reduce the size of our financial guaranty insured risk exposure, de-leverage our balance sheet and reduce operating expenses. Having made progress in this regard, we continue to pursue these efforts while our financial guaranty exposure runs off. The Company does not intend to re-enter the financial guaranty reinsurance market in the future; however, we are currently considering writing short-term, non-catastrophe, property-casualty reinsurance in order to enhance overall shareholder value. Any such new business would be subject to regulatory approval.

Run-Off Business Line: Financial Guaranty Reinsurance

From 1998 to 2008, AORE’s principal activity was reinsurance of financial guarantees of public finance and structured finance debt obligations insured by monoline financial guaranty companies. AORE provided reinsurance through treaty and facultative agreements that it maintained with its customers. Since 2008, many of these treaties were terminated and the related exposures commuted back to the monolines. Financial guaranty reinsurance provides for guarantees of scheduled principal and interest payments on an issuer’s obligation in accordance with the obligation’s original payment schedule and, in rare circumstances, such amounts are payable on an accelerated basis.