Investor group to buy Bermuda-based SAC Re

Bermuda-based SAC Re Ltd. will be sold to a group of investors, and the reinsurer will be renamed Hamilton Re, Reuters reported.

Brian Duperreault, former chief executive officer of ACE Ltd. and Marsh & McLennan Cos. Inc., will be named CEO of Hamilton Re. Two Sigma Investments L.L.C. will become sole investment manager for Hamilton Re's investable assets.

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