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Bermudian hedge fund reinsurer and US run-off specialist JV completes acquisition

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Bermuda-based hedge fund reinsurer Sandell Re Ltd. and U.S.-based run-off specialist SOBC Corp.'s joint venture firm SOBC Sandell has completed the acquisition of U.S.-based insurer PIA Professional Liability Insurance Company, RRG, Artemis.bm reported. This acquisition will benefit Sandell Re by bringing additional premium float into its business, while Sandell Asset Management Corp. will manage the investment side of the reinsurance business. SOBC will manage these transactions through to run-off.

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