Private equity start-up buys offshore casualty reinsurer
New York private equity firm Southport Lane has bought a Cayman Islands workers' compensation and liability reinsurer in its second insurance-related acquisition in two weeks.
Redwood Reinsurance, established in 2008, provides treaty reinsurance to the US market. The terms of the transaction were not disclosed.
Southport Re CEO Glenn Weber said the acquisition gave the firm access to a diverse insurance portfolio and it would continue providing treaty reinsurance to carrier partners.
"This deal underscores our commitment to expanding our...
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