PαCRe Ltd

Growth in assets under management of $630m at AlphaCat Managers Ltd., Bermuda based insurance and reinsurance group Validus’ ILS and third-party capital manager, helped to drive strong premium growth and increased the re/insurers share of AlphaCat net income in 2015.

AlphaCat Managers Ltd., Bermuda based insurance and reinsurance group Validus’ ILS and third-party capital manager, has grown its assets under management to $2.4 billion at 1st January 2016, representing over 71% growth year-on-year and strong fund-raising towards year-end.

AlphaCat Managers Ltd., Bermuda headquartered insurance and reinsurance group Validus’ ILS and third-party capital manager, added $163.8 million of third-party capital in Q3 2015, taking its total assets under management to just under $2.24 billion.

Insurance and reinsurance rating agency A.M. Best has withdrawn the ratings on the John Paulson and Validus backed joint venture investment-oriented (or hedge fund strategy) reinsurer PacRe Ltd., at the companies request.

AlphaCat Managers Ltd., the ILS and third-party capital focused unit of Bermuda headquartered insurance and reinsurance group Validus, has passed the $2 billion mark for the first time, reporting $2.08 billion of assets under management.

AlphaCat Managers Ltd., the ILS and third-party capital focused unit of insurance and reinsurance group Validus, increased its premiums written in the first-quarter as it put its increased capital to work having raised new funds for the start of 2015.

Total assets under management at AlphaCat Managers Ltd., the ILS focused unit of reinsurance group Validus, have reached $1.88 billion according to the reinsurers results, but performance for the unit was hit by investment losses at hedge fund reinsurance joint-venture PaCRe Ltd.

Rating agency A.M. Best has placed hedge fund strategy reinsurance firm PaCRe Ltd’s rating under review with negative implications due to a shortfall in performance, compared to its business plan, caused by poor investment returns.

Yet again Bermuda domiciled insurance, reinsurance and alternative capital manager Validus Holdings shows that the focus on its AlphaCat third-party capital and insurance-linked securities funds unit is paying off as it writes more business and brings in more income.

Bermuda domiciled insurance, reinsurance and ILS capital firm Validus Holdings, continues to see strong demand from investors to access its range of third-party capital products under the AlphaCat brand, according to Validus CFO Jeff Sangster.