Hamilton Re, the reinsurance platform of Bermuda-based holding company Hamilton Insurance Group, has secured $65 million of collateralized capacity through the issuance of the Series 2019-1 preference shares from its special purpose sidecar vehicle, Turing Re Ltd., in a syndicated private placement.
In a statement, Hamilton Re said that Turing Re will provide support for Hamilton Re's global property treaty reinsurance portfolio.
“We're pleased to be able to take this next step in the evolution of Turing Re and our broader third party capital strategy,” said Hamilton Re's chief executive officer, Kathleen Reardon. “That we were able to secure this capacity amidst more uncertain conditions in the insurance-linked securities market is a testament to the quality of our approach and of our platform.”
TigerRisk Capital Markets & Advisory acted as sole structuring and placement agent on the transaction. Willkie Farr & Gallagher LLP acted as legal counsel to Hamilton Re.
Learn more: www.hamiltongroup.com.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].