ABR Reinsurance Capital Holdings

U.S. insurance group Chubb Ltd. has revealed that it ceded $115m of reinsurance premiums to ABR Reinsurance Ltd. in 2015, its captive-style and total return reinsurer joint-venture with Blackrock, recognising commissions of $30m in the year.

Evan Greenberg, CEO of global insurance and reinsurance firm ACE Limited, said that the new joint-venture backed, captive-style reinsurer ABR Re will purely be a capacity player, following the reinsurance market’s terms.

ABR Reinsurance Ltd., the much discussed hybrid reinsurance vehicle, has been officially launched by insurer ACE Limited and investment bank Blackrock, having raised approximately $800m of capital, which was at the lower end of its target.

ABR Reinsurance Capital Holdings Ltd., the much discussed joint venture reinsurer from insurer ACE Limited and investment bank Blackrock, has filed a securities offering which suggests that the reinsurer will look to raise between $800m and $1.3 billion of capital for launch.