Lancashire to launch new capital management unit

Global specialty insurer and reinsurer Lancashire Holdings Ltd. is launching a new capital management brand, Lancashire Capital Management, as it seeks to benefit from opportunities in the third-party capital market.

The new unit will be headed by Lancashire Insurance Company Ltd.'s chief underwriting officer, Simon Fascione. The unit will manage and execute the suite of existing managed premium strategies, while working to develop future products and structures. Unlike the reinsurer's existing temporary sidecar structures, the new unit likely will provide a more permanent investment structure.

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