Alternative Risk Reinsurance Company Limited

Inside Bermuda can today disclose further details about a Cayman Islands-registered company that Stirling Cooke Brown Holdings has been so reluctant to discuss. The reason might be because Alternative Risk Reinsurance Company Limited is a joint venture between Stirling Cooke and the individuals behind New Jersey-based Unicover Managers.

Stirling Cooke Brown Holdings has refused to explain a mysterious $1.4 million investment write-down that was disclosed in its latest 10Q filing with the SEC. The company is being so secretive about the write-down that it has created an irresistible impression that it has something to hide.

Two subsidiaries of Bermuda-based reinsurers were recently granted licences to operate in the Cayman Islands. Stockton Reinsurance (Cayman) Limited, which was incorporated on July 29, 1997, received a restricted Class B licence, which allows the licensee to cover only the risks of its parent company.