Multi-Strat Re in ceding agreement with Resource Re
Till Capital, the parent company of Resource Re, has signed two agreements that mean that Multi-Strat Re will take on its underwriting services and cede a portion of re/insurance business to the subsidiary.
Resource Re was the first firm to agree to use Multi-Strat Re, an investment platform that allows hedge funds to enter the reinsurance business, in 2013.
Under the agreements, Multi-Strat Re will provide certain underwriting and retrocession services to Till Capital.
One agreement deals with the terms around underwriting including the collection and processing of premiums and claims. The other covers a retrocessional arrangement whereby Multi-Strat Re will cede certain business to Resource Re.
“Signing these agreements marks our transition to a reinsurance company,” said William Sheriff, Till Chairman and CEO. “We look forward to working closely with the MSRE team in building the Company’s reinsurance asset base.”
Bob Forness, Multi-Strat Re chairman and chief executive, added: “Our original partnership with Resource Re is now greatly enhanced by Till Capital’s ownership of Resource Re and its commitment to the MSRE platform. We are excited to work with the Till Capital team as it builds Resource Re in Bermuda.”
