Lancashire’s Kinesis facility executes first “Special Draw”

Kinesis Capital Management (KCM) has carried out its first “special draw”, according to Lancashire Holdings Limited, allowing Kinesis Re to underwrite fully collateralised reinsurance business outside of the traditional market renewal season.

This follows the successful fund-raising conducted earlier in the year.

Darren Redhead, CEO of KCM, says: “our stated strategy is to allow investors access to the collateralised reinsurance market on a regular and opportunistic basis. I am very pleased that within a week of negotiating an indicative order with a client, Kinesis has secured firm funding commitments from its existing investors.”

He continues: “this deal demonstrates the flexibility of the new facility and our ability to move rapidly in aligning our investors’ capital with the bespoke reinsurance needs of our clients.”