Hedge-Fund Reinsurer Underwriter Names CEO

Sep 5 2013 | 11:04am ET

Multi-Strat Re, which helps hedge-fund-backed reinsurance companies enter the market, has a new leader.

Bob Forness was named chairman and CEO of the Bermuda special-purpose insurer. He joins the firm after stints at his own firm, alTreo, and reinsurers Imagine Group and Odyssey Re.

Multi-Strat runs a master reinsurer, underwriting on behalf of the hedge-fund reinsurers and allocating premiums to them to invest in the underlying hedge fund.

"We are thrilled that someone of Bob's caliber and experience has joined us in our quest to revolutionize both the asset-management and reinsurance industries," Multi-Strat Holdings CEO Joe Taussig said. "Bob and I go way back. I had a hand in his joining Imagine in 2002 and we were putting together a company similar to Greenlight Re with a world-class asset manager when the financial crisis of 2008 interrupted the project," he added, referring to hedge fund Greenlight Capital's reinsurance business.

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