Bermuda-based start-up reinsurer Aeolus Re has increased its capital base to over $1 billion through an investment led by Warburg Pincus and Merrill Lynch Global Private Equity, the carrier said today.
Warburg Pincus has invested $350 million in the company and has invested in other carriers such as Renaissance Re Holdings and Arch Capital Group.
Aeolus Re has operated as an unrated reinsurance platform, initially targeting the property-catastrophe segment of the worldwide reinsurance market since July of last year.
The carrier has provided fully collateralized protection to insurers and reinsurers on both an ultimate net loss and industry loss warranty basis.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.