Apsley, PartnerRe Team Up To Provide HF Underwriting Service

Mar 24 2014 | 2:15pm ET

Insurance provider Apsley Specialty has joined forces with international reinsurer PartnerRe to launch an underwriting service for hedge funds seeking to comply with new European regulations.

Recent changes to the Alternative Investment Fund Managers Directive require the majority of hedge fund managers to have liability risk insurance in place by July 22, 2014.  Alternative fund managers are expected to comply with the rules by holding the appropriate “additional own funds” or “professional indemnity insurance” to cover potential risks created from professional negligence.
 
James Lawrie, executive director of the new business, has more than 10 years experience in the industry, including time at Towers Watson and Caliburn Capital Partners. Lawrie has a detailed knowledge of both sides of a very specialist insurance and hedge funds industry, having earlier spent five years in the financial institutions insurance market.
 
Said Lawrie in a statement: “These changes to the AIFMD will bring about new challenges and opportunities for the hedge fund industry. It’s a major development for fund managers as they’ll need to make sure they comply with the new regulations and our solution will allow them to do this. “
 
Apsley is an underwriting agency focused solely on the asset management sector. PartnerRe will be a capacity provider for the project.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Often seen as a passion project, or part of a philanthropic venture, rare and fine stringed instruments offer an exciting option to diversify one’s investment portfolio while providing an opportunity for an exceptional long-term investment.