Credit Suisse ILS sets up reinsurance unit in Bermuda

Credit Suisse Insurance Linked Strategies Ltd. has set up a new reinsurance unit in Bermuda to underwrite business for its ILS strategies and funds, Artemis.bm reports. Credit Suisse has appointed Michael McKnight as chief executive and chief risk officer of the unit, Bernina Re Ltd. Credit Suisse said that Bernina Re is Solvency II compliant and can underwrite reinsurance contracts in other domiciles such as Switzerland, European Union countries and Japan.

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