Log In

Reset Password

White Mountains buys stake in ILS manager

Bermudian-based White Mountains Insurance Group Ltd has acquired a minority equity stake in Elementum Advisers, an ILS manager with more than $4 billion of assets under management.

Since its launch in December 2009, Elementum, which has an office in Bermuda and is headquartered in Chicago, has grown to become a leading alternative investment management firm.

Elementum manages portfolios across a range of liquidity and risk-return profiles, including catastrophe bonds and collateralised reinsurance investments. It is the third-largest independent manager of insurance-linked securities.

“We are thrilled by White Mountains' investment in Elementum,” said Tony Rettino and John DeCaro, founding principals at Elementum.

“We believe it will enable us to continue to provide high-quality investment management services to our investors and fortify our business operations and franchise.”

Manning Rountree, chief executive officer of White Mountains, said: “We are delighted to make this investment in Elementum. Tony and John have built a quality business with a strong track record. We look forward to their continued success.”

White Mountains will also invest $50 million across Elementum's funds. Elementum's principals continue to own a significant majority of Elementum and will control the operation of the business following this transaction.

Acquisition: White Mountains Insurance Group has bought a minority stake in LIS manager Elementum

You must be Registered or to post comment or to vote.

Published June 04, 2019 at 6:19 pm (Updated June 05, 2019 at 12:56 am)

White Mountains buys stake in ILS manager

What you
Need to
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon