Hedge fund reinsurer news

Bermuda-based property and casualty reinsurance firm Third Point Reinsurance Ltd., backed by hedge fund manager Dan Loeb’s Third Point LLC, has reported lower income due to lower investment return and lower premiums written in the challenging market.

Hamilton Insurance Group, the holding company for Bermudian asset management backed reinsurer Hamilton Re, announced three promotions at the reinsurer yesterday, including the promotion of Kathleen Reardon to CEO of Hamilton Re.

One of the trends which Artemis has been writing about and predicting will increase for a while now, is the gradual adoption of more aggressive or active investment strategies by traditional reinsurers who are struggling to meet return targets on reinsurance rate alone.

The hedge fund and institutional asset manager Pine River Capital Management is seemingly not having an easy time getting into the reinsurance industry and launching its rumoured Pine River Re, according to recent reports.

Till Capital Ltd., the new parent company of Resource Re Ltd. which was the first hedge fund style reinsurance firm to join the Multi-Strat Re Ltd. platform in September 2013, has now listed its shares on the TSX Venture Exchange.

Hamilton Insurance Group, the holding company for Bermudian asset management backed reinsurer Hamilton Re, has promoted Peter Skerlj to the role of Chief Risk Officer, Hamilton Re.

Resource Re Ltd., the first hedge fund style reinsurance firm to join the Multi-Strat Re Ltd. platform last September, is changing hands as the reinsurer and its holding company Resource Holdings Ltd. gets acquired by Americas Bullion Royalty Corp.

Equity investment manager Hyaline Capital Management will soon be launching its own reinsurance firm, Hyaline Re Ltd., becoming the latest hedge fund style reinsurer to launch this year and a new addition to the Multi-Strat Re Ltd. platform.

The 2013 results posted by Greenlight Re, the Cayman Islands domiciled, hedge fund manager David Einhorn and Greenlight Capital, Inc. backed reinsurance firm, show just why the hedge fund reinsurer strategy is attractive for investors and managers.

Interesting news from Bloomberg, reporting last week that hedge fund and institutional asset manager Pine River Capital Management is actively seeking to raise up to $750m for the launch of its own reinsurance firm, Pine River Re Ltd.