Thu, Dec 14, 2017
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. Mediobanca acquires majority stakes in Swiss hedge fund[more]

    Komfie Manalo, Opalesque Asia: Listed diversified banking group Mediobanca SpA said it has acquired a majority stake in Geneva-based hedge fund firm RAM Active Investments SA (RAM AI), an active and alternative asset manager offering a range of act

  2. Launches - Ex-BlueCrest team to open over $200m hedge fund, Greg Coffey, a hedge fund star who retired at 41, is eyeing a comeback, Brevan Howard plans Greek funds as bond rally signals revival[more]

    Ex-BlueCrest team to open over $200m hedge fund From Bloomberg.com: A team of traders who left BlueCrest Capital Management earlier this year raised more than $200 million for their own hedge fund focused on Asian stocks, according to a person familiar with the matter. Ovata Capital Manag

  3. North America - Miami could attract hedge funds if SALT deductions axed[more]

    From Law360.com: For years, inertia has been Nitin Motwani's greatest foe in his attempts to lure hedge fund owners in the northeast to Miami, which he has pitched as a tropical low-tax paradise. But with the Republican tax bill proposing to eliminate deductions for state and local taxes, he's sensi

  4. Northleaf Capital Partners closes debut private credit fund on $670M[more]

    Bailey McCann, Opalesque New York: Northleaf Capital Partners has closed its debut private credit fund - Northleaf Private Credit I - on $670 million. The vehicle will invest in private credit transactions in Europe and North America, with a primary focus on lending to private equity-backed compa

  5. ...And Finally - The ongoing gun saga in the U.S.[more]

    From Newsoftheweird.com: As elder members of the First United Methodist Church in Tellico Plains, Tennessee, gathered on Nov. 16 to discuss the recent church shooting in Sutherland Springs, Texas, one of those present asked if anyone had brought a gun to church. One man spoke up and said he c