Tue, Aug 4, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Bob Forness named Chairman and CEO of Multi-Strat Re

Tuesday, September 03, 2013

Bob Forness has been named Chairman and CEO of Multi-Strat Re Ltd., a Special Purpose Insurer licensed by the Bermuda Monetary Authority. Multi-Strat Re functions as the master reinsurer for its Participating Reinsurers, each of which is a standalone Class 3A Insurer licensed in Bermuda and sponsored by an asset manager who manages all of the investable assets of the given Participating Reinsurer that he or she has sponsored.

What Multi-Strat Re does Multi-Strat Re offers structured, low volatility reinsurance contracts covering high frequency, low severity risks from captive insurers, privately-held insurers, and insurers and reinsurers under regulatory or ratings stress. These covers permit the cedants to transfer, shift, and redistribute risk and to redeploy capital more productively or obtain surplus relief.

Multi-Strat Re then reallocates its premiums to its Participating Reinsurers and the asset managers get to invest its Participating Reinsurer’s equity capital and its share of those premiums. According to Forness, "Our pipeline of sponsors is very strong, and we expect our aggregate capital to comparable to number of publicly traded reinsurers by the end of 2015. However, since Multi-Strat Re secures all of its obligations with letters of credit from highly rated banks, it does not need a large balance sheet in order to be competitive from inception&quo......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Other Voices: Same day reporting and the evolving role of fund administrators[more]

    By: Scott Price, Head of Business Development and Client Management for North America, Maitland Ernst & Young’s latest glob

  2. Activist News - Celgene says patent-fighting hedge fund manager wants to short its shares[more]

    From Reuters.com: Celgene Corp, one of the world's largest biotechnology companies, has accused U.S. hedge fund manager Kyle Bass of attempting to profit from his attempts to wipe out several major drug patents through his Coalition for Affordable Drugs. The company asked the U.S. Patent and T

  3. Einhorn's Greenlight Capital hedge fund slumps 6.1 percent in July[more]

    From Reuters/Thefiscaltimes.com: Hedge fund mogul David Einhorn's Greenlight Capital slumped 6.1 percent in July and is now down 9 percent for the year after gold, one of the fund's top holdings, tumbled to five-year lows last week. Greenlight notified clients of its returns late on Friday, ac

  4. Cowen Group, Inc. to acquire Conifer Securities[more]

    Cowen Group, Inc. and Conifer Securities, LLC had announced the signing of a definitive agreement under which Cowen will acquire Conifer Securities, the prime services division of Conifer Financial Services LLC. The transaction, the terms of which have not yet been disclosed, was approved by the boa

  5. Cargill’s Black River Asset to shut down four hedge funds[more]

    Komfie Manalo, Opalesque Asia: Cargill Inc.’s $7.4 billion Black River Asset Management said it was closing four hedge funds with a combined $ 1 billion in assets and start returning investors money over the next several months, various media said. The hedge funds represent 15% of Black River’

 

banner