BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.
To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.
To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.
Liberty Mutual Insurance Co. said Tuesday that it had created its first reinsurance sidecar, which will reinsure catastrophe and specialty risks.
Bermuda-based Limestone Re Ltd., a newly formed segregated account company, will lead the transaction, which includes third-party investor capital.
The Limestone Capital Markets platform has $160 million in investor capital and will write U.S. catastrophe risks and London market specialty business, a Liberty Mutual statement said.
The platform will have an initial placement of two years, which can be extended.
Sidecars have used by reinsurers and insurers over the past decade to add temporary capacity from third-party investors.
“The creation of the Limestone platform is a key strategic initiative for Liberty Mutual,” James Slaughter, Liberty Mutual senior vice president and director of global reinsurance strategy, said in a statement. “This transaction demonstrates investors’ interest in both traditional property catastrophe reinsurance risks as well as insurance risks including homeowners, marine and other global specialty insurance lines.”
Liberty Mutual Insurance Co. said Thursday it has named Boston-based David Dwortz president of Helmsman Management Services L.L.C., Liberty Mutual’s third party claims administrator.