Daily Insurance Industry News
 
 
Daily Insurance Industry News
Monday 19th of February 2018
October 5, 2012

Hiscox and Third Point Re to create new cat fund

by Gill Montia

Story link: Hiscox and Third Point Re to create new cat fund

Hiscox Bermuda has agreed in principle to partner Third Point Reinsurance in the creation of a new catastrophe fund management business.

Hiscox will become a shareholder of Third Point Reinsurance Investment Management, which has been set up for the purpose, and says it intends to make a significant investment in the Third Point Reinsurance Opportunities Fund, the initial fund entity to be launched.

Structured via a quota share agreement, tailored portfolios of catastrophe reinsurance exposure will be ceded by Hiscox to the new fund.

Jeremy Pinchin, Hiscox Bermuda‚Äôs chief executive officer, comments: “Finding innovative ways to bring fresh sources of capital to the market is a key objective of ours, it gives our clients and broker partners more opportunities to work with us.”

 

News posted:



Related stories to Hiscox and Third Point Re to create new cat fund: