TORONTO--(BUSINESS WIRE)--Aug. 7, 2006--Reliant Home Warranty Corporation (OTCBB: RHWC) President & CEO Boyd Soussana announced today that Reliant, through its Barbados subsidiary, Reliant Insurance SCC, has received conditional approval for its insurance license.
Through its lawyers in Barbados, Reliant Insurance SCC received written confirmation that the Ministry of Finance in Barbados has conditionally approved its insurance licensing application.
Reliant Insurance SCC will specialize in re-insurance products designed for mortgage indemnity, builder "spec home" Mortgage Indemnity commercial protection products and New Home Warranty Latent Defect and Structural Warranty products.
"We are very happy with the Ministry's approval as this allows the organization to move forward in providing new and innovative mortgage indemnity products which we can offer to select clients," stated Mr. Steve Hamilton, President Reliant Insurance SCC.
About Reliant Home Warranty Corporation
Reliant Home Warranty Corporation (www.relianthwc.com) offers the sub-prime residential mortgage market high-ratio to value mortgages that includes self-employed consumers and those with difficult credit.
Reliant Insurance SCC is a wholly owned captive insurance company, organized to provide risk management and re-insurance coverage for corporate customers on a global basis.
Forward-Looking Statement
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical facts may be forward-looking statements. Forward-looking statements are based on expectations, estimates and projections at the time the statements are made to involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. For a summary of such risks and uncertainties, see the Company's periodic reports and other filings with the Securities and Exchange Commission.
