American Elm to Distribute Ascendant Capital Preferred Shares

American Elm Distribution Partners LLC, a third-party managing broker-dealer, has been engaged by Ascendant Capital, a Cayman based company, to distribute a new round of the company’s preferred shares to registered representatives and registered investment advisors.

The company says the offering is designed to further expand Ascendant’s reinsurance business and its investment diversification strategy amongst investors. Ascendant Capital reinsures multi-year guaranteed annuity and fixed index annuity policies issued by U.S. insurance companies.

“American Elm is excited for the opportunity to distribute preferred shares in a reinsurance company whose unique investment strategy can be a great diversification tool for investment allocators,” said Carmine Cozelino, president of American Elm Distribution Partners LLC.

Ascendant says reinsurance companies have gained prominence over the last two decades for the role they play in the insurance industry. By assuming a portion of the policies to reduce exposure to the insurance company, they may support growth, mitigate risk and provide stability.

“We are delighted to be working with American Elm during this exciting stage of our growth. We believe this environment presents attractive opportunities to expand Ascendant’s footprint and continue to build on our track record,” said Erik Fell, chief executive officer of Ascendant Capital.

Ascendant Capital operates an annuity reinsurance business that is domiciled in the Cayman Islands and serves primary insurers in the United States.

American Elm Distribution Partners is a managing broker-dealer and multi-product platform in the retail marketplace.

Click here to visit The DI Wire directory page.