Eric W. Rahn

An unfunded renewable and alternative energy startup focused on producing biofuels from algae.
Chief Operating Officer & Chief Financial Officer
Hired to establish corporate governance, raise capital for pilot and demonstration phases, set up operating structure and procedures, and assist in hiring personnel.

• Created LLC Operating Agreement , assisted in negotiating a founders’ authority structure, and created a confidential Offering Memorandum for institutional and individual investors in the first 30 days.
• Negotiated a letter of intent to capture the greenhouse gas emissions of a regional coal-powered electric utility needed to build the pilot phase.
• Raised pilot-phase capital by identifying and soliciting several dozen prospective investors in six months.

A fully integrated commercial property and casualty insurance company providing, along with Bermuda Class 3 sister firm, American Constantine Insurance Company, complete underwriting and claims handling to US-based partners operating primarily in surplus-lines markets.
Founder, President, CEO & CFO
Established the new firm by recruiting and training professional, accounting, and administrative personnel reaching a total staff of 45. Built year-one sales of $21 million to $36 million five years later.

• $4.3 million of equity capital raised in 18 months by convincing potential investors of the business’ stability through thorough financial proformas.
• $800,000 expense avoided by internally developing a fully integrated IT system through creation of an environment that encouraged collaboration between IT staffers and user departments and requiring delivery of an excellent final product.
• Increased underwriter efficiency by automating the submission, review, and proposal process and utilizing lower-income staff to scan, file, and assign incoming underwriting documents.
• 61% return of investors’ capital ($2.4 million in cash dividends) accomplished in the firm’s initial six years by careful and astute management of the company’s growth and daily operations.

• Achieved dedicated insurance regulatory support in Bermuda by retaining a professional insurance-company manager and nurturing the relationship.
• Created a collaborative culture by involving underwriters with claims personnel in quarterly claims reviews and meetings with external defense attorneys.
• Established key relationship with a highly regarded reinsurance broker by soliciting proposals from the marketplace, negotiating with respondents, committing to one, and building the alliance.
• Formed long-term contractual rapport with two insurance industry partners and dozens of reinsurers by providing “turnkey” proposals backed with compelling financial proformas and making convincing presentations of the company’s capabilities.
• Instituted strong corporate governance by appointing exacting members to boards of directors that took an active role in overseeing the business and providing informative quarterly reports to investors.
• Strengthened the firm’s management capabilities by recruiting professional staff and administrative personnel through active networking within the industry.

• Double-digit returns generated on a dozen real-estate limited partnerships involving commercial multi-family properties by identifying the opportunities and performing proper due diligence.
• Reduced long-term rent and created an appreciating asset by purchasing a $5-million office building with a $50,000 down payment and financing the balance with tax exempt, low-interest funding.