Bermuda reinsurer Resource Re, a subsidiary of Till Capital, has entered into talks with Bermuda based private special purpose insurer MultiStrat Re (MSRE).
Under the current agreement, MSRE will provide underwriting and retrocession related services to Resource Re.
“Barriers to entry are a critical factor in limiting access to the reinsurance sector, often requiring start-up capital in excess of $250 million. Working within the MSRE model the company gains entry to the reinsurance market at an earlier stage with less capital required upfront and may benefit from the opportunity to grow its reinsurance business over time,” the company says.
“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, MSRE chairman and CEO, 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.”
Till Capital, Multistrat Re, underwriting, Bermuda, retrocession, William Sheriff