Operating Subsidiaries

Tawa Management Limited

Tawa Management is our insurance services company. It provides acquisition, operational and change management services to the London insurance market. It also manages the run-off of the insurance companies we acquire including providing run-off management services to CX RE and KX RE pursuant to run-off management agreements in place with these companies.
www.tawamanagement.com

Tawa Consulting Limited

Tawa Consulting is our consulting company. It provides business transition & change management services, reserving & portfolio evaluations, audits & inspections and commutation support. It can also provide legacy management for brokers and insurance companies. The team has backgrounds in broking, claims adjusting, human resources and IT environments and is dedicated to creating value-added services to clients, focusing on strategic needs.

CX Reinsurance Company Limited

(partly owned)

On 31 October 2002, Tawa acquired CX RE, formerly called CNA Reinsurance Company Limited, from Continental Casualty Company. From 1977 CX RE underwrote a complex portfolio of US and international insurance risks but ceased underwriting in August 2001. When purchased, CX RE was the largest solvent company run-off in the London market. Since 2002, we have reduced the gross undiscounted liabilities of CX RE by over 75%; one of the most rapid reductions ever seen in the London market. On 21 March 2006, we sold most of our shares in CX RE, retaining 12.65% of the non-voting shares and 49.95% of the voting shares. Tawa Management manages the run-off under a contract running to 2010.
www.cxre.com

KX Reinsurance Company Limited

On 4 May 2007, Tawa completed the acquisition of KX RE, formerly called Continental Management Services Limited. KX RE is a mature run-off with a wide variety of exposure, predominantly in US dollars. The majority of risks relate to 1985 and before.
www.kxre.com

PXRE Reinsurance Company

On 31 March 2008, Tawa completed the acquisition of PXRE, a Connecticut-domiciled reinsurance company that entered run-off in 2006.

Please note that Tawa has not acquired PXRE Reinsurance Ltd or PXRE Reinsurance (Barbados) Limited, companies domiciled, respectively, in Bermuda and Barbados and that remain part of the Argo Group.