12.11.2014 - Kelvin Re 100% backed by Abu Dhabi sovereign wealth fund
The Abu Dhabi Investment Council (ADIC) is the sole equity backer of Credit Suisse Asset Management (CSAM)'s Guernsey start-up reinsurance vehicle Kelvin Re, a report from rating agency AM Best has revealed. Kelvin Re is expected to write a globally diversified reinsurance portfolio with gross premium of $100mn in its first year, of which two-thirds will comprise non-proportional catastrophe business. AM Best said this could increase by 8-12 percent in subsequent years, meaning non-proportional catastrophe risks could make up between.................................................Full Article: Source
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