Kinesis Capital Management (KCM), the third-party capital management division of Lancashire, has carried out its mid-year draw, in line with its planned biannual regular offering.
The capital raise was tailored to available attractive market opportunities with a total limit of $50 million.
Investors were invited to subscribe for securities in Kinesis Holdings I to enable its subsidiary, Kinesis Reinsurance I Limited, to underwrite fully collateralised reinsurance business incepting on or around 1 July 2014.
Darren Redhead, KCM's chief executive officer, said: "We continue with our strategy to work with and build our panel of investors, providing flexibility to expand and contract over time, dependent on the market opportunities that arise. With this successful mid-year draw, Kinesis has deployed approximately $340 million of combined aggregate limits since the beginning of the year."
Kinesis Capital Management, Europe, Lancashire, Darren Redhead