Third Point Re and Hiscox Bermuda launch new cat fund

Third Point Reinsurance and Hiscox Bermuda have announced their partnership in the development of a catastrophe reinsurance fund management business.

Hiscox Bermuda will be a shareholder of the recently established Third Point Reinsurance Investment Management, and intends to make a significant investment in the Third Point Reinsurance Opportunities Fund, the initial fund entity that has been launched.

John Berger, chief executive officer of Third Point Reinsurance said that the company was thrilled to be teaming up with Hiscox on this project.

“Hiscox is one of the best reinsurance groups in the world and we look forward to developing a catastrophe reinsurance fund business with them,” he said.

“Finding innovative ways to bring fresh sources of capital to the market is a key objective of ours, it gives our clients and broker partners more opportunities to work with us. We look forward to developing a successful partnership with Third Point Reinsurance Ltd”, added Jeremy Pinchin, chief executive officer at Hiscox Bermuda.