Bermuda-based start-up reinsurer Aeolus Re has increased its capital base to over $1 billion through an investment led by Warburg Pincus and Merrill Lynch Global Private Equity, the carrier said today.
Warburg Pincus has invested $350 million in the company and has invested in other carriers such as Renaissance Re Holdings and Arch Capital Group.
Aeolus Re has operated as an unrated reinsurance platform, initially targeting the property-catastrophe segment of the worldwide reinsurance market since July of last year.
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