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Darren Bailey has been hired by the legacy insurer in a business development role for the firm’s M&A team.
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AIG has sold a 19.9 percent stake in its new legacy vehicle DSA Re to private equity house Carlyle Group as part of a larger effort to build the vehicle into a standalone legacy acquirer.
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Renaissance Re has made a minority investment in run-off specialist Catalina, it confirmed in a press release yesterday.
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Legacy manager Armour has confirmed that an investor group led by Aquiline Capital Partners has raised $500mn to finance a takeover of the firm, following earlier reports of the deal.
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Run-off specialist Armour has been bought by private equity house Aquiline, sister publication The Insurance Insider has reported
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The legacy reinsurance market is catching the attention of ILS funds seeking additional yield and diversification, as business opportunities from insurers looking to offload older portfolios increase due to the tighter capital restrictions imposed by Solvency II
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There will be significant volumes of ILS capital trapped at year-end, particularly in the retro segment, but out of this challenge the reinsurance market is looking for opportunities to spin out new products
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Credit Suisse and Bermudian run-off specialist Armour Group have raised more than $270mn for a second series of their joint venture legacy ILS fund, regulatory filings show