New reinsurer Rosh Re to set up with $600m of capital – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

Log In

Reset Password
BERMUDA | RSS

New reinsurer Rosh Re to set up with $600m of capital

Mail

Print

Tweet

Michael Jacobs, founder and CEO of Rosh Capital

Rosh Capital Management is to set up a new reinsurer in Bermuda, backed by $600 million of family office capital.

Reports in trade publications suggest Rosh Re Ltd will have an investment-oriented approach.

Rosh Re’s lead investor, providing $600 million of backing, is WM Holding AG, a family office of industrial investor Ajay Kumar.

Michael Jacobs, chief executive officer of Rosh Capital Management LP, was quoted by risk transfer website Artemis.bm as saying: “I’m delighted to have the support and backing of Ajay and his team. We are ideally positioned to create exceptional shareholder value with modest risk and volatility while diligently managing risk on both sides of the balance sheet.”

Rosh Re will underwrite global and diverse specialty casualty lines of reinsurance business, the company said.

It will also provide “bespoke rehabilitative solutions” designed to “help insurers leverage surplus relief and free their capital to deploy in the hardening market”.

Mr Kumar said: “I am excited to invest in Rosh Capital Management LP’s differentiated reinsurer and to partner with Michael and his team.

“I have been seeking to capitalise on the exceptional opportunity this hardening market brings and found Michael’s unique strategy compelling and unlike any I have seen in the reinsurance space.

“His strategy benefits from the hardening market while managing insurance and investment risk to generate optimal value throughout the cycle. We are cautious in how we deploy our capital and felt strongly that Rosh’s strategy strikes the right balance.”

Maamoun Rajeh, an Arch Capital reinsurance executive, estimated the capital influx into re/insurance this year at about $12 billion, most of it being invested in existing platforms.

Re/insurers are seeing opportunities to capitalise on rising rates, while some want capital to shore up their balance sheets amid uncertainty over the extent of pandemic-related claims.

Mail

Print

Tweet

You must be registered or signed-in to post comment or to vote.

Published October 20, 2020 at 1:00 pm (Updated October 20, 2020 at 1:44 am)

New reinsurer Rosh Re to set up with $600m of capital

What you
Need to
Know
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