Tuesday, 21 October 2014
Last updated 42 min ago
Feb 25 2013 | 11:29am ET
Hedge funds' reinsurance business may not be great public relations, but they are great for the reinsurance business, according to one industry player.
The hedge fund industry's move into reinsurance got something of a black eye last week, when reports indicated that they could be used as tax shelters. But Hiscox, a Bermuda-based insurer and reinsurer, said in a new report that it has been a boon for it and for the insurance business.
Hiscox has partnered with Third Point's reinsurance business and has committed US$30 million to its planned catastrophe fund. And it says it is seeing the benefits that third-party capital will have on the markets.
"The reinsurance market is evolving and we must change with it," CEO Bronek Basojada said. "New forms of capital are entering the industry, selling collateralized policies or buying catastrophe bonds issued by cedents like Hiscox, in competition with traditional markets."
Third Point Re has agreed to buy some tailored portfolios of catastrophe reinsurance exposure from Hiscox as part of their partnership.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...