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NAMIC Capital Access Programs Through NCB

Need a Source for Capital?

Sooner or later you may need to increase your capital.

If your company has reached the point where additional capital is needed to achieve your goals, look to the NAMIC Surplus Note Program for solutions.

What can the NAMIC Surplus Note Program do for you?

  • Respond to your needs. In 1996, many NAMIC members expressed the need for a source for capital to provide growth and expansion opportunities.
  • Provide "friendly" capital. the capital is supportive of proven successful business strategies.
  • Offer a proven solution. Many NAMIC members have availed themselves of the opportunity to add to their surplus through the sale of Surplus Notes to the National Cooperative Bank of Washington, D.C. These Notes total more than $43 million, ranging in size from $500,000 to $10 million.

Expand your opportunities. How have NAMIC member companies used the capital?

  • to expand their premium writings,
  • to support mergers and acquisitions,
  • to reduce their reliance on reinsurance, and
  • Make funds available on an "as needed" basis.

The NAMIC Surplus Note Program offers the opportunity to establish a Stand-by Surplus Note Facility that management can use on an as-needed basis, without the necessity of paying for the surplus until the option to sell the Surplus Note is exercised.

The NAMIC Surplus Note Program adheres to five principles.

  1. Available to all members who can demonstrate an opportunity to profitably employ the added surplus.
  2. Terms and conditions that are extremely favorable.
  3. Minimal interference with the prerogatives of management and the Board of Directors, with no extra financial or management reporting requirements.
  4. A pure investor relationship which does not require management to purchase banking or any other service from a designated provider as a condition of the Surplus Note, i.e., no "hidden costs."
  5. An efficient placement process which minimizes management's involvement.

Learn more about NCB.

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NAMIC Capital Access Programs

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