Encumbrance Newpoint Reinsurance Company Limited Nevis St Kitts Nevis over the assets of NPFC SPV 1 Inc WY USA dated 27 Jun 2022 Ref. 202206278302321
Lender / Secured party/ies:
Newpoint Reinsurance Company Limited (Nevis, St Kitts & Nevis) and n/aDebtor / Grantor/s:
NPFC SPV 1 Inc (WY, USA) and n/aSecured amount (USD$):
refer to the collateral for this information.Collateral:
Refer to the source document for precise wording, scanned with OCR and AI tools. - Secured Party and Debtor entered into a Note Issuance Agreement in which the Debtor has issued 2 individual Notes in the amount of USD $5 million each, represented by CUSIP# 65172Q AA5 / ISIN# US65172QAA58. The notes are identified as NPFC/UST/CN/2021/01-34 and NPFC/UST/CN/2021/01-35. Pursuant to the Note Issuance Agreement and Notes, the Debtor has pledged to the Secured Party as Collateral all of its rights to the principal corpus of the United States Treasury Bonds registered under CUSIP 912810QZ4. The terms of this Collateral Pledge and Security Agreement are detailed in the agreement between the Secured Party and the Debtor. Notably, the amount of USD $10 million is allocated exclusively to support the obligations under the Workers’ Compensation and Employer’s Liability Quota Share Reinsurance Contract effective January 1, 2021, between StarStone National Insurance Company (signed 18th April 2022) and Newpoint Reinsurance Company Limited (NPRE) (signed 29th March 2022 with NPRE stamp reference NPREri0322201WC00081).
Analysis (Mark Smith's comments):
Security document (read it): Click Here to View document