private debt

Investment firm 777 Partners and its co-founders including Josh Wander are facing fraud charges filed against them by the US Securities and Exchange Commission (SEC), in a lawsuit that alleges misuse of funds and collateral, while also highlighting the double-pledging of assets that should have backed a lending facility.

Hudson Structured Capital Management Ltd. (HSCM), a reinsurance, insurtech, insurance-linked securities (ILS) and transportation focused investment manager, and Kilter Finance, an insurance-focused specialty financing company, have backed a $170 million debt raise for re/insurer IQUW as it continues to build-out its Bermuda platform.

Leadenhall Capital Partners LLP, the London-headquartered specialist insurance-linked securities (ILS) and reinsurance linked investment manager, has filed a lawsuit accusing investment firm 777 Partners, its co-founders and related entities of fraud, stating that collateral pledged for a lending agreement it provided was double-pledged or did not even exist.

The crisis being seen in banking sectors, most prominently with the failure of Silicon Valley Bank and sale of Credit Suisse to UBS, is not a crisis of the insurance sector, and there are no fundamentals to support the recent revaluation of insurance debt, Plenum Investments has stated.

Speciality California-based catastrophe exposed property insurer Palomar Insurance Holdings has raised its target for an impending Nasdaq initial public offering (IPO), hoping to raise as much as $110 million at the top-end of its share price estimates.

Palomar Insurance Holdings, the speciality California-based insurer that provides largely catastrophe exposed property covers, as seeking to raise $50 million in a Nasdaq initial public offering (IPO), adding to the $20 million it raised in a debt issuance invested in by ILS specialists Fermat Capital Management and investor Cohen & Company.

Swiss headquartered insurance and reinsurance linked asset management firm Twelve Capital has appointed Aaron Coates, previously of Barbican Insurance, to an Executive Director role that will see him focused on sourcing ILS transactions and private debt deals.

Specialist Zurich-based insurance linked investment manager Twelve Capital has announced a temporary closure of the firms insurance private debt investment strategy due to high demand from clients resulting in $400m of inflows since November.

Specialist Zurich-based insurance-linked securities and reinsurance-linked investment manager Twelve Capital achieved attractive returns across its core strategies of catastrophe bond funds, ILS mandates and insurance bond funds in 2013.

Specialist Zurich-based insurance-linked securities and reinsurance-linked investment manager Twelve Capital has expanded its investment strategy in recent days with the launch of an insurance private debt strategy to provide small and medium insurers with a new source of regulatory capital.