PRIMEX Limited (“PRIMEX”) is a group captive domiciled in Barbados that provides excess liability insurance for mid-size chemical companies. Established on April 14, 1986, PRIMEX was capitalized by chemical industry related companies. Beginning July 1, 1995, the Company entered into successive agreements with major reinsurance companies, enabling the captive insurer to provide Excess Liability limits of $25 million with PRIMEX.

Mission Statement

PRIMEX exists to provide a stable, reliable, and predictable source of primary Excess Liability insurance for its members, supporting their long-term risk management objectives. Its aim is to:

• Maximize long-term stability, taking into consideration the availability, limits, breadth of coverage and cost of insurance.
• Minimize the total cost of insurance and retained losses over the long-term.
• Maintain conservative underwriting and reserving practices to preserve the financial strength of PRIMEX.

PRIMEX accomplishes its mission by:

• Retaining existing members and accepting new memberships.
• Gaining the advantages of group purchase insurance.
• Investing cash reserves to maximum returns.