Hedge fund reinsurer news

Total return reinsurance vehicle KaylaRe Ltd. is set to lessen the impact of recent hurricanes for its sponsor, insurance and reinsurance specialist Enstar Group, shouldering a portion of the group’s losses through its quota-share with StarStone.

Hedge fund backed reinsurance firm Third Point Re revealed an, as expected, minimal loss from recent catastrophe events in the third-quarter and also highlighted why its strategy has the potential to outperform peers, by revealing a 14.4% investment return for the first nine months of the year.

Hedge fund backed reinsurance firm Greenlight Re has created the role of Chief Operating Officer for its latest hire, Michael Belfatti, who joins the David Einhorn backed reinsurer following a career that involved senior roles at both Endurance and Validus.

John Berger’s stepping back from senior leadership roles at hedge fund backed reinsurance firm Third Point Re has driven further changes, as he hands over the CEO role at Third Point Re USA to Robert Bredahl, with Daniel Malloy now stepping up from CUO to CEO of Third Point Reinsurance Company.

Total return reinsurance vehicle KaylaRe Ltd. has driven higher fee income again for its sponsor, insurance and reinsurance specialist Enstar, as the strategy begins to acquire scale, as cessions made to KaylaRe build up and the investment float continues to accumulate.

The total return reinsurance model, or investment oriented reinsurance model, or hedge fund backed reinsurance model (depending on what you prefer to call it), remains a challenging strategy to execute on well, but more recent start-ups that are sponsored by an existing re/insurer and asset manager are favoured by S&P.

Arch Capital Group’s part-owned total return reinsurance vehicle, Watford Re, experienced losses of more than $110 million in the second-quarter of 2017, reducing the income it passed onto its third-party investors when compared with the previous year’s quarter.

During the second-quarter of 2017 Bermuda-based insurer and reinsurer, AXIS Capital Holdings, noted the continued positive momentum it sees in its strategic capital partnership activities, recognising increased fee income and ceding more premiums to third-party capital in the period.

When rating or commenting on a total-return reinsurance firm, a hedge fund reinsurer, or any insurance or reinsurance strategy that adds more risk on the investment side, rating agency A.M. Best has a habit of warning of the downside, but in affirming the AXIS Capital & Blackstone sponsored Harrington Re Ltd., A.M. Best seems more […]

Greenlight Capital Re Ltd. (Greenlight Re), the David Einhorn hedge fund backed reinsurance firm from the Cayman Islands, has struck a $1.1 billion quota share renewal with Windhaven, that will see the reinsurer assume auto business line risks.