Reuters—Marsh & McLennan will take a minority stake in Bermuda-based insurance asset manager Juniperus Capital, which specializes in catastrophe bonds and other capital markets insurance products, Juniperus and its private equity backer Aquiline Capital Partners said Tuesday.

The deal makes for a reunion of sorts— Aquiline Chief Executive Jeff Greenberg was for many years the CEO of the consultancy and insurance broker Marsh & McLennan before being forced out in 2005.

He went on to found Aquiline, which backs a number of insurance-related businesses including flood and educational insurer WRM America and asset manager Conning.

Aquiline acquired a stake in Juniperus in January. The company said Tuesday it plans to expand its management team following the Marsh investment.

Juniperus is also planning new funds for investors, it said. There has been a sharp upswing in demand of late for catastrophe bonds and other so-called insurance-linked securities, particularly because of a low correlation with other asset classes that leaves them less vulnerable to market swings.

First-quarter catastrophe bond sales set a record $1.5 billion, Marsh peer Aon said this month.