Kelvin Re Limited

European property and casualty (P&C) run-off specialist company Marco Capital Holdings Limited has now acquired the second former Credit Suisse ILS run Guernsey based reinsurance company Kelvin Re Limited.

Kelvin Re Limited, the previously ILS capital backed Guernsey based reinsurance company, is not expected to form a part of its new owner TD Bank’s long-term plans, which has led rating agency AM Best to be cautious on the outlook for the company.

Having been acquired by New York headquartered financial services group Cowen, the Guernsey based, previously Credit Suisse Insurance Linked Strategies supported reinsurance company Kelvin Re Limited remains under review, from a ratings perspective, given uncertainty related to its parent and the eventual strategy it will take.

The Guernsey based, Credit Suisse Insurance Linked Strategies supported reinsurance company Kelvin Re Limited has been acquired by New York headquartered financial services group Cowen.

Rating agency AM Best has said that it expects the ownership of the Guernsey based, Credit Suisse Insurance Linked Strategies supported reinsurance company Kelvin Re Limited will change, which suggests a sale of the reinsurer to a run-off specialist, or perhaps another buyer, is close.

Humboldt Re Ltd., one of the two Guernsey based, Credit Suisse Insurance-Linked Strategies supported rated reinsurance carriers, has now been sold to European property and casualty (P&C) run-off specialist company Marco Capital Holdings Limited.

Humboldt Re Ltd., one of the two Guernsey based, Credit Suisse Insurance-Linked Strategies supported rated reinsurance carriers, is being sold to a run-off specialist, with the deal expected to complete imminently.

Humboldt Re Ltd., one of the two Guernsey based, Credit Suisse Insurance-Linked Strategies supported rated reinsurance carriers has reportedly been the subject of the signing of a sale purchase agreement, suggesting a new owner has been found.

The Pension Fund of Credit Suisse Group reported that it is restructuring CHF 357.1 million of insurance-linked securities (ILS) investments and revealed an exposure to the running-off of rated reinsurance company Humboldt Re.

The shuttering of Guernsey based, Credit Suisse Insurance-Linked Strategies supported, reinsurance firms Kelvin Re and Humboldt Re is due to strategic decisions being taken by the ultimate institutional investors behind them, a Credit Suisse spokesperson told us.