Insight and Intelligence on the London & International Insurance Markets

4 February 2012

$35mn Max Re loss linked to Amaranth

25 September 2006

The $35mn third-quarter hedge fund investment reverse revealed by Bermudian reinsurer Max Re Capital last week (20 September) has been linked to heavy energy losses at Amaranth Advisors.

In its announcement, Max Re said: “Third quarter 2006 earnings are expected to be impacted by an estimated $35mn reduction in net gains stemming from trading losses in certain hedge fund investments.”

Financial analysts have speculated that the loss is related to the much-publicised $4.6bn loss suffered by Amaranth as a result...

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