Multi-Strat Re has signed two agreements to take on the underwriting services of Till Capital and cede a portion of re/insurance business to its subsidiary, Resource Re.
Resource Re was the first company to use Multi-Strat Re, an investment platform that allows hedge funds to enter the reinsurance business, in 2013.
Under the latest agreements, Multi-Strat Re will provide certain underwriting and retrocession services to Till Capital.
This part of the agreement deals with the terms around underwriting including the collection and processing of premiums and claims, whilst the other covers a retrocessional arrangement whereby Multi-Strat Re will cede certain business to Resource Re.
“Signing these agreements marks our transition to a reinsurance company,” says William Sheriff, Till chairman and CEO. “We look forward to working closely with the MSRE team in building the Company’s reinsurance asset base.”
Bob Forness, Multi-Strat Re chairman and chief executive, adds: “Our original partnership with Resource Re is now greatly enhanced by Till Capital’s ownership of Resource Re and its commitment to the MSRE platform. We are excited to work with the Till Capital team as it builds Resource Re in Bermuda.”