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The reinsurer posted intakes to its Medici and Upsilon funds. -
As part of expansion plans, Ki has also signed a stock purchase agreement to acquire an inactive insurance carrier that holds licenses in more than 40 states.
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The buy-in from the blue-chip US insurer is a coup for the expansive London market and Bermuda (re)insurer.
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He will join on 22 July, after Ben Rubin left the firm earlier this year.
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The Canadian pension fund and the ILS fund provide Funds at Lloyd’s capital alongside traditional reinsurers.
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The Chicago-based executive has also worked for Credit Suisse.
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Reinsurers from Bermuda, the Cayman Islands and Japan have also provided capital to the syndicate for its 1 July launch.
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The asset manager’s primary platform has previously been using fronting providers and Nephila's Lloyd’s syndicate to access business.
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The limited liability vehicle consolidator, which has raised £75mn in capital in recent months, reinstates a dividend.
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The funds made a $93.9mn loss in 2019, ahead of a leadership changeover at legacy adviser Armour.
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Berkshire, along with some other expansive reinsurers, grew its level of assumed reinsurance premium from top Florida insurers significantly in 2020, as the ILS market share dropped overall.
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The fundraise will allow the InsurTech distribution platform to double its staff and roll out new products.
