hedge fund reinsurer


New PFIC regs active conduct test excludes ILS funds & structures

A new set of guidance on the treatment of passive foreign investment companies (PFICs) published at the end of last week by the U.S. Internal Revenue Service and Department of the Treasury has been modified so that the active conduct test excludes insurance-linked securities (ILS) funds, as well as other read the full article →

Arch gets Enstar onboard with increased offer for Watford Re

Arch Capital Group Ltd. looks set to secure the outright acquisition of its total-return reinsurance joint-venture Watford Re, after increasing its offer and gaining the support of key shareholder and rival bidder for Watford, legacy reinsurance solutions specialist Enstar Group. Back in October, legacy insurance and reinsurance specialist underwriter and investor read the full article →

Rosh Capital launches investment-oriented reinsurer Rosh Re with $600m

New York based asset manager Rosh Capital Management, LP has raised $600 million from a private family office to launch Rosh Re Ltd., a Bermuda based reinsurance company that will have an investment oriented approach. Rosh Capital Management had established a total-return or hedge fund focused reinsurance initiative back in 2018. It's read the full article →

Arch Capital to acquire Watford Re after increasing offer

Arch Capital Group Ltd. said today that it has reached an agreement with Watford Holdings Ltd., the holding company of total-return reinsurance company Watford Re to acquire the company for $31.10 per share, that values it at roughly $622 million. Arch had previously been reported to have offered $26.00 per share read the full article →

Enstar offers to acquire Watford Re

Bermuda domiciled re/insurance, run-off and legacy specialist underwriter and investor Enstar Group has made a formal approach to the board of Watford Re's holding company to acquire the total return focused reinsurance firm. According to a filing, Enstar has offered to acquire all of the ordinary shares of Watford Holdings Ltd., read the full article →

Credit Suisse ILS’ reinsurers Kelvin Re & Humboldt Re have ratings affirmed

The two Guernsey domiciled rated reinsurance vehicles managed by and backed by capital from the Credit Suisse Insurance Linked Strategies Ltd. team have had their ratings affirmed and their underwriting strategies tweaked to reduce the volatility in their results going forwards. Rating agency A.M. Best highlights the balance-sheet strength of each read the full article →

Credit Suisse ILS run reinsurer Kelvin Re takes $350m capital injection

Kelvin Re Limited, a rated reinsurance company run by the Credit Suisse Insurance Linked Strategies Ltd. team and backed by investments from the Abu Dhabi Investment Council has taken an injection of capital to strengthen it in 2019. Guernsey domiciled Kelvin Re underwrites short-tail property catastrophe and specialty lines reinsurance, with read the full article →

Third Point Re in property cat boost, Malloy affirmed CEO, Sankaran joins board

Bermuda headquartered, hedge fund backed, global reinsurance firm Third Point Re has begun to benefit from its expansion into property catastrophe reinsurance underwriting, reporting a contribution to its results that helped to lower the combined ratio. Third Point Re has still reported a technical underwriting loss, as the combined ratio for read the full article →

New PFIC regs released, relevant to ILS & hedge fund reinsurance strategies

The U.S. Internal Revenue Service and Department of the Treasury has published a new set of proposed regulations relating to passive foreign investment companies (PFICs), which are relevant to many in insurance and reinsurance, but have particular relevance to certain ILS and hedge fund reinsurer strategies it seems. The updates to read the full article →

Third Point Re – less hedge fund investing, more catastrophe underwriting

Bermuda headquartered, hedge fund backed reinsurance firm Third Point Re is pivoting further away from the longer-tailed underwriting, more active investment approach of its original strategy, as it embraces catastrophe risk once again. As one of the main proponents of the total return or hedge fund reinsurance strategy, Third Point Re read the full article →