RCC Holdings Corp fka RCCH

[johnnyfiber]

Well if that's what Gene says, then we either own a piece of Wisdom International, or another reinsurance company was launched, or Gene isn't being upfront.

INSURANCE – INTERNATIONAL REINSURANCE COMPANY, LTD
Wisdom International Corporation purchased International Reinsurance Company, Ltd
(International Re) in 2003 and since that time propertycasualty
insurance has been our core
business and the propellant of our growth. Our efforts in the insurance industry have provided
an amount of funds with which we have been able to grow the company. Because the
insurance business is so important to our overall future growth, I will spend some time in this
section telling you how we got were we are.
The Founders of International Re realized in the midnineties
that the insurance
companies making the most profits in the insurance industry were those who were selling
reinsurance policies. Therefore, International Re was founded and began its operation on
February 8, 2000 and we believe we are on our way to establishing a niche as a leading,
boutique reinsurance company.

http://www.pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=7688

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ITEM 1. BUSINESS

RCC Holdings, Corp (hereafter referred to as
"Company") was founded and organized under the
laws of the State of Colorado on March 10,
2003. The company's founder is Mr. Gene
Newton, born in Oxnard, California on May
14, 1946. Mr. Newton has an excess of thirty
years of education, holding a Master's degree
in Finance and a BA in Physical Education.
Mr. Newton acquired International Reinsurance
Company, Ltd. (hereafter referred to as "IRC"),
a sole ownership business, originally licensed
in the State of Wisconsin under the guidance
of Mr. Todd Norvett, in which he was the
founder and managing director during the
mid-eighties till President. Upon the acquisition
of IRC, Mr. Norvett resigned and was replaced
by Mr. Holloway, who is presently the managing
director of IRC. The acquisition of IRC was
conducted as a transaction between Mr. Newton,
Individually prior to the incorporation on
March 10, 2003. Mr. Newton realized in the
mid-eighties that the insurance companies that
were the most profitable were the re-insurance
companies. Mr. Norvett began IRC in February
of 2000 and has become a significant niche in
the reinsurance industry. After Mr. Newton's
personal acquisition of IRC, he moved the
company operation headquarters to Las Vegas,
Nevada and maintains subsidiary offices in
London, England and Dallas, Texas, in which
it provides unique reinsurance solutions to
clients throughout the world. IRC became a
wholly owned subsidiary of the Company shortly
after the founding of the Company in March of
2003. IRC's business includes the provisions
of reinsurance and retrocession to underwriters
of life, property, casualty, accident and
health, in addition to, a world-class annuity
business.

Mr. Holloway, under the direct supervision of
Mr. Newton and the Board of Directors of the
Company, has directed IRC towards reinsurance
of companies such as Warren Buffet's Berkshire
Hathaway, have centered their entire operation
around their insurance and reinsurance business,
even though they own numerous name brand companies.
There are no conflicts of interest between the
above named firms.

http://www.secinfo.com/d12st4.2a.d.htm

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In our opinion, the financial statements referred to about
present fairly, in all material respects, the financial position of
International Reinsurance Co. Ltd (a subsidiary of RCC HOLDINGS CORP)
as of September 20, 2002 and June 30, 2002, and the results of its
operation and cash flows for the three months ended September 30, 2002
and the year ended June 30,2002 in conformity with accounting
principles generally accepted in the United States.

Respectfully submitted,

/s/ Robison, Hill & Co
Certified Public Accountants

Salt Lake City, UT
October 1, 2002

NOTES TO FINANCIAL STATEMENTS

NOTE 1--ORGANIZATION AND SUMMARY OF SIGNIGICANT ACCOUNTING POLICIES

This summary of accounting policies for International Reinsurance
Co. Ltd. Is presented to assist in understanding the Company's
financial statements. The accounting policies conform to generally
accepted accounting principles and have been consistently applied in
the preparation of the financial statements.

Organization and Basis of Presentation

The company was incorporated under the laws of the Island of
Nevis on February 8, 2000. The Company's fiscal year end is June 30.
Since February 8, 2000, the Company is in the development stage, and
has not commenced planned principal operations.

Nature of Business

The Company has no products or services as of September 30, 2002.
The Company intends to provide reinsurance policies to licensed
insurance companies, throughout the United States and in certain
international markets.

Cash and Cash Equivalents

For the purpose of the statement of cash flows, the Company
considers all highly liquid debt instruments purchased with a maturity
of three months or less to be cash equivalents to the extent the funds
are not being held for investment purposes.

Pervasiveness of Estimates

The preparation of financial statements in conformity with
generally accepted accounting principles required management to make
estimates and assumption that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the
date of financial statements and the reported amounts of revenues and
expenses during the reporting period. Actual results could differ from
those estimates.

Concentration of Credit Risk

The Company has no significant off-balance sheet concentrations
of credit risk such as foreign exchange contracts, options contracts or
other foreign hedging arrangements.

Depreciation

Fixed assets are stated at cost. Depreciation and amortization
is calculated on a straight-line basis over the estimated useful lives
of the assets as follows:

Asset Rate

Furniture and Fixtures 5-7 years
Office Equipment 3-5 years

Maintenance and repairs are charged to operations; betterments
are capitalized. The cost of property sold or otherwise disposed of
and the accumulated depreciation thereon are eliminated from the
property and related accumulated depreciation accounts, and any
resulting gain or loss is credited or charged to income.

The Company has adopted the Financial Accounting Standards Board
SFAS No. 121, Account for the Impairment of Long-Lived Assets. SFAS
No. 121 addresses the accounting for (i) impairment of long-lived
assets, certain identified intangibles and goodwill related to assets
to be held and used, and (ii) long-lived assets and certain
identifiable intangibles to be disposed of. SFAS No. 121 requires that
long-lived assets and certain identifiable intangibles be held and use
by an entity be reviewed for impairment whenever events or changed in
circumstances indicated that the carrying amount of an asset may not be
recoverable. If the sum of the expected future cash flows from the
used of the asset and its eventual disposition (un-discounted and
without interest charges) is less than the carrying amount of the
asset, an impairment loss is recognized.

http://www.secinfo.com/d12st4.28.c.htm#Dates

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Wisdom International Purchases Remaining Shares of International Re from Norwich
December 15, 2004

Wisdom International Corporation, a diversified holding company based in Salt Lake City, Utah, announced today that it has reached an agreement to purchase the remaining ownership shares of International Reinsurance, Ltd., Wisdom's Nevis based reinsurance company, from Norwich Management Company of Norwich, England.


Wisdom Chairman and CEO Michael Merservy of noted: "We are pleased that Norwich has expressed the continued confidence in our management and business plan, electing to take stock as consideration for the final piece of their holdings."

Norwich Management Company is an international insurance broker and consultant, headquartered in the UK. Norwich has represented a diverse client base and is active in all aspect of risk management, underwriting and marketing. Peter Greengrass, CEO of Norwich noted: "We like what we see at Wisdom and think that the growth opportunities are significant. They will be good partners."

Wisdom is a diversified holding company. Its reinsurance activities are conducted through its subsidiary, International Reinsurance Company, Ltd., with offices in Nevis, West Indies, Norwich, England and Dallas, Texas.

http://www.insurancejournal.com/news/international/2004/12/15/48650.htm

http://www.primenewswire.com/newsroom/news.html?d=82993