Pillar Capital Management, a Bermuda-based insurance asset manager focused on collateralised reinsurance and catastrophe-linked securities, has formed a strategic partnership with Transatlantic Re. In addition to acquiring a minority stake in the company, Transatlantic Re has made a multiple-year commitment to invest in Pillar’s funds.
Transatlantic Re joins Marsh & McLennan companies, Aquiline Capital Partners and the Pillar management team as owners of Pillar Capital Management.
“The market demand for well-qualified independent third-party managers of property catastrophe risk from institutional investors continues to be high,” said Michael Sapnar, chief executive officer of Transatlantic Re. “After considering a variety of ways to participate in this trend, we chose to partner with Pillar. We’ve known the Pillar team for some time and believe they are well positioned to build a leading asset manager for insurance-linked investments.”
Chris McKeown, chief executive officer of Pillar, echoed Sapnar’s sentiments: “We are thrilled to welcome Transatlantic Re as a strategic partner and have great respect for the organisation. We look forward to working with Transatlantic Re and our other partners as we develop first-class investment opportunities in the reinsurance space for our investors.”
Trans Re, Pillar Capital Management, collateralised reinsurance, catastrophe-linked securities, Bermuda