A centralized management platform for the life and annuity sector has officially launched in Bermuda.

Foundry Insurance Services Ltd is dedicated to providing services, including investment, risk and capital management to the insurance industry.

The management platform is led by seasoned Bermuda insurance executive, Andrew Markus, the former CEO of Atlantic Capital Partners LLC a strategic consultancy advising on new company formations in the insurance and reinsurance sectors.

He was previously the CEO of Langhorne Reinsurance (Bermuda) Ltd, a Bermuda Class E reinsurer.

Mr Markus commented: “I’m thrilled to launch Foundry at a time when insurers are increasingly seeking partners that understand both their risk profiles and capital needs.

“Our goal is to build a flexible, institutional-quality platform that can support the evolving landscape of life and annuity reinsurance, and we’re excited to have the institutional support of Blackstone.”

With a focus on investment, risk, and capital management, Foundry operates with support from affiliates of Blackstone and certain Blackstone managed funds.