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...Aspen is owned by private equity group Apollo and sells insurance and reinsurance through the Lloyd’s of London market as well as in Bermuda and the US....
...Moody’s wrote in a recent report that “the rising tide of offshore life reinsurance raises [a] yellow caution flag”....
...This enabled Indonesia to optimise its debt-service levels in the face of volatile markets....
...He says that for 15 years, half of the carried interest he was entitled to from Vista’s premiere fund was filtered through a Nevis LLC called Flash Holdings, owned via bearer shares by a Belize foundation...
...The recent conclusion of S&P Global Ratings was that the global reinsurance industry will barely cover its cost of capital this year: In 2017, the reinsurance sector generated returns on capital of only...
...and deep expertise in financial services.”...
...About $105bn worth were sold last year, down from $158bn five years earlier, according to the financial services trade association LIMRA....
...Profits in reinsurance come from underwriting and from investments. Problem one: the reinsurance newcomers are not particularly good underwriters....
...The quarterly figures weighed on group-wide results from Marsh, although other parts of the group – which also includes the HR specialist Mercer and the reinsurance brokerage Guy Carpenter – held up better...
...Like-for-like prices for US reinsurance cover have fallen about a third since 2012, according to the broker Willis Re....
...Capital has flooded the reinsurance industry in recent years as hedge funds and pension funds searched for profits....
...It already provides back-office services such as underwriting, claims, reinsurance and accounting to insurers — including a 10-year, £187m contract with the insurance broker Marsh....
...Mr Loeb and David Einhorn’s Greenlight Capital are also among the hedge funds to have set up reinsurance companies in recent years....
...Mr Weill’s appointment comes as global hedge funds are becoming increasingly powerful in the reinsurance market with several high profile money managers setting up reinsurance vehicles....
...Holding’s reinsurance business....
...Mr Buffett’s template of using an insurance company as an investment vehicle at his Berkshire Hathaway group has been copied by hedge funds including Daniel Loeb’s Third Point Reinsurance and David Einhorn...
...Mr Greco, who joined Generali from Zurich Financial Services a year ago, is seeking to raise €4bn from assets disposals....
...It manages funds that own American Home Mortgage Services and has substantial investments in Assured Guaranty, Bank-United and Montpelier Reinsurance....
...The extra capital along with cash flows from its £4.2bn of pensions assets and further reinsurance transactions should allow Pension Corporation to reach the point where its business is self sustaining,...
...Restructuring the reinsurance obligations helped secure approval of the deal....
...For the most part, where such investors are pursuing deals in the financial services sector it will be particularly the lower-risk infrastructure or administrative-type services where they will hunt for...
...investment activities that have in the past led it to be labelled a “black box” by its detractors – it is a market-maker, operates a controversial high-frequency trading outfit, and even has a Bermuda-based reinsurance...
...The three buy-out firms had been asked to work together on an investment, but JC Flowers, led by financial services investor Chris Flowers, broke away on its own on Sunday to consider investing alone or...
...Also on Friday, Berkshire Hathaway agreed to buy the NRG reinsurance business from ING, the Dutch financial services group, for $441m....
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