Warren, N.J.-based Chubb announced yesterday that it enteredinto a strategic agreement with a private equity firm to launch aBermuda-based reinsurer with $1.5 billion of initial capital.
Company management said they saw an opportunity in the wake ofhurricane losses that have shaken the reinsurance market.
Chubb will invest in the new global reinsurance company--HarborPoint Limited--to be formed by Stone Point Capital LLC, a privateequity firm based in Greenwich, Conn.
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