Former Chubb chief reinsurance officer Bill O'Farrell and
Arch are set to unveil a new $500mn+ Bermudian run-off vehicle with
majority backing from private equity firm Kelso & Co,
The Insurance Insider can reveal.
Sources said the start-up has been named Premia Re and will operate as a Bermuda-based Class 4 reinsurer.
Fundraising is believed to have closed at just over $500mn, with Arch taking a significant minority stake as a strategic partner that will provide quota share support to...
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