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RenRe boosted its stake in DaVinci to 29% after buying $119mn of shares from third parties. -
Marine insurance and reinsurance are target business areas, the project partners said.
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The Convex CEO reiterates his prediction of a potential $200bn casualty-reserving deficit and anticipates a similar amount of Covid claims.
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The executive, who was confirmed in her role earlier this month, bought 19,950 shares at the IPO price of 500 pence per share.
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Oaktree Capital is understood to be the institutional investor behind the "permanent capital" retro carrier.
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Abu Dhabi sovereign wealth-backed Mubadala becomes an Arbol investor.
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The move marks its second fundraise after an initial allocation from Canada’s PSP Investments in November.
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Specialist AuM rose 3% over the half year to 1 January, with Leadenhall, Fermat and Hudson Structured the biggest gainers.
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The reinsurer anticipates a $175mn hit from Covid-19 claims during the quarter.
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The ex-Scor staffer will work to expand HSCM’s InsurTech business and serve as managing director.
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The capital supports the MGA’s excess retro portfolio.
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The injection leaves US private equity firm Golden Gate Capital as a controlling shareholder.
