$30m cat reinsurer sets up in Bermuda

One of the largest family office investors in Japan has launched a $30-million catastrophe re/insurer in Bermuda.

Triton Re was launched as a Special Purpose Insurer (SPI) in December 2011, with a mandate to write property and casualty risks as well as to invest in cat bonds, industry loss warranties (ILWs) and sidecars, according to the SPI manager the Horseshoe Group.

Last week The Royal Gazette reported that 54 new insurers set up in Bermuda last year, including 13 last month.

The reinsurer will be led by former Mitsubishi executive and independent investor Hiroki Enokitohge.

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Published Jan 18, 2012 at 12:01 am (Updated Jan 19, 2012 at 7:08 am)

$30m cat reinsurer sets up in Bermuda

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