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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 →

Nephila reapproved as Blackstone sub-advisor after Markel acquisition

Nephila Capital, the largest investment fund manager of insurance-linked securities (ILS) and reinsurance linked assets, has been reapproved as a sub-advisor for a multi-strategy fund by asset management giant Blackstone.Blackstone Alternative Asset Management, the hedge fund solutions group of Blackstone which has around $78 billion under management, had first added read the full article →

ILS & reinsurance are Hedge Funds 2.0, says Future Fund CIO

The world of hedge funds and alternative investment strategies is moving fast and the Chief Investment Officer of massive A$166 billion Australian sovereign wealth fund, the Future Fund, is happiest allocating to what he terms Hedge Funds 2.0, a categorisation that ILS and reinsurance fits into.Speaking at the i3 Investment read the full article →

Cumulus weather focused energy trading team transfers to Citadel

Much of the trading team behind the long-standing Cumulus weather and energy investment funds are transferring over to investments and hedge fund giant Citadel LLC, as the Cumulus funds are being shuttered, according to a report from Bloomberg.Citadel, which manages roughly $28 billion in its range of fund strategies, has read the full article →

U.S. tax reforms could see some ILS structures CFC or PFIC classified: Mayer Brown

Reforms under the new Tax Cuts and Jobs Act (TCJA), adopted in the U.S. in December 2017, means that some insurance-linked securities (ILS) structures could be classified as a controlled foreign corporation (CFC) and others could be classified as a passive foreign investment company (PFIC), according to Mayer Brown's Global read the full article →

Athene & Apollo get long-term capital in $19bn annuity reinsurance deal

Athene Holding Ltd., the life and retirement reinsurance focused company that is majority owned and works alongside private equity specialists Apollo Global Management, LLC, has entered into a $19 billion reinsurance agreement covering $19 billion of fixed and fixed indexed annuity liabilities for Voya Financial.The arrangement is a clear demonstration 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 →

Investment oriented reinsurance model best when sponsored: S&P

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.Rating read the full article →

ILS funds move up the rankings, future growth potential clear

Generally, insurance-linked investment fund managers have moved up a ranking of alternative asset managers over the last year, as their assets under management increased propelling them upwards. But the potential for ongoing growth is clear, as ILS only makes up 0.6% of the surveyed asset base.The latest survey on alternative read the full article →