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Bermuda-based Ariel Re Ltd. has secured $270 million in capital from five new institutional investors and family office investors, while existing investors Pelican Ventures Group LLC and J.C. Flowers & Co. ramped up their underwriting capital commitments to support its growth, Reinsurance News reported. The reinsurer has secured $170 million through Lloyd’s London Bridge 2 PCC Ltd., making it the first sponsor to raise capital through the LB2 structure, which was launched in 2022.