Hamilton continues to strengthen its third party capital and ILS franchise with Ada Re launch

Hamilton Insurance Group has launched Ada Capital Management, a Bermuda-regulated insurance agent authorised to underwrite on behalf of Ada Re, a newly-formed, Bermuda-registered special purpose insurer.

Ada Re has secured capital commitments and will provide capacity for high-return collateralised retrocessional reinsurance contracts on a market-facing basis, subject to regulatory approvals.

Ada Re will have access to Hamilton’s underwriting expertise, including its proprietary portfolio management and pricing system, Hamilton Analytics and Risk Platform (HARP). It will operate in addition to Hamilton’s existing sidecar Turing Re and other third-party capital initiatives within the Hamilton ILS platform, which are part of Hamilton's strategic partnerships unit.

Hanni Ali, senior vice president of strategic partnerships at Ha,ilton, will work closely with Ada Re, alongside Tim Duffin, Hamilton Re's chief underwriting officer, and Susan Steinhoff, Hamilton Re's head of property reinsurance.

Tony Ursano, group chief financial officer and head of strategic partnerships at Hamilton, said the launch of Ada Re “is another step forward in our ambition to build a leading third-party capital management and ILS franchise over time.”

He added: "Ada Re will give investors immediate access to the improving pricing, terms and conditions, and expected returns in the retro market. The establishment of Ada Re is indicative of our ability to quickly capitalise on dynamic reinsurance market conditions for the benefit of third-party capital investors."