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Legacy expert Armour looks to help free capital from trapped ILS assets

Bermuda-headquartered P&C legacy or run-off reinsurance specialist and founder of ILS Investment Management (ILSIM) Armour Group is seeking to put its expertise to work to help ILS funds or investors that have been hit by recent catastrophe losses.Artemis has learned from our sources that Armour Group is actively looking to read the full article →

Edward Torres hired by Willis Re to focus on structured & legacy risks

Reinsurance broker Willis Re has hired former PartnerRe Director of Capital Markets Edward Torres to a role that will see him focused on structured transactions and legacy liability risk transfer, areas the broker sees as relevant to capital markets expansion into insurance risk.Torres has joined Willis Re as an a read the full article →

The capital markets as a wholesale risk trading market: Millette, Hudson Structured

The entry of the capital markets into reinsurance through the catastrophe bond instrument was a sign of the global capital markets becoming a wholesale risk trading market, according to Michael Millette, Managing Partner of Hudson Structured Capital Management Ltd.Speaking on a panel in Bermuda yesterday, at the ILS Bermuda Convergence read the full article →

R&Q hires Bailey as it seeks ongoing innovation in the legacy space

Randall & Quilter, a Bermuda headquartered specialist non-life insurance and reinsurance investor, legacy or run-off transaction service provider and underwriting program manager (amongst other things) has hired Darren Bailey, an executive with ILS and capital markets experience.Randall & Quilter (R&Q) has been known for taking an innovative approach to the read the full article →

Armour gets $500m Aquiline-led investment, Validus participates

Bermuda-headquartered P&C legacy and run-off reinsurance specialist, as well as founders of ILS Investment Management (ILSIM), Armour Group has raised a $500 million investment round led by private-equity specialists Aquiline Capital Partners to fund further growth.Armour, which was founded in 2007 by Brad Huntington and John Williams works closely with read the full article →

Two more run-off deals from total return reinsurer Sandell Re & SOBC

Total-return reinsurance firm Sandell Re and legacy specialist SOBC Corp. have completed two more run-off transactions under their legacy or distressed run-off and commutation joint-venture SOBC Sandell, acquiring two more captive entities.SOBC Sandell has acquired 100% of the outstanding shares of ASAC Inc., PCC, a protected cell company, and American read the full article →

Total return reinsurer Sandell Re & SOBC in new legacy acquisition

The joint-venture legacy or distressed run-off and commutation insurance and reinsurance entity formed by total-return reinsurer Sandell Re and legacy specialist SOBC Corp. has entered into a new acquisition, purchasing 100% of the stock of American Safety Risk Retention Group, Inc. of Vermont.SOBC Sandell, as the joint-venture is called, was read the full article →

Credit Suisse and ILSIM raising capital for second ILS P&C run-off fund

The Credit Suisse Asset Management (CSAM) insurance-linked strategies team and sub-advisor ILS Investment Management (ILSIM) are in the process of raising a second ILS fund focused on property and casualty run-off opportunities, with filings showing around $282.5 million successfully raised of a targeted maximum of $800 million.The two firms, the read the full article →

Hedge fund reinsurer Sandell Re’s legacy play makes first acquisition

SOBC Sandell, a joint-venture legacy or distressed run-off and commutation insurance and reinsurance entity established by hedge fund reinsurer Sandell Re Ltd. and run-off specialist SOBC Corp, has made its first acquisition.In December, SOBC Sandell completed the acquisition of PIA Captive. PIA Captive was a risk retention group in Montana, read the full article →

Hedge fund reinsurer Sandell Re joins forces with SOBC for legacy play

Hedge fund reinsurance firm Sandell Re Ltd. is joining forces with specialist in acquisition and management of legacy or distressed insurance and reinsurance liabilities SOBC Corp. to create a new joint-venture named SOBC Sandell.The legacy or distressed run-off and commutation space of the insurance and reinsurance market will be attractive read the full article →