Tue, Mar 19, 2024
A A A
Welcome Guest
Free Trial RSS pod
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

Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1