The Association of Bermuda Insurers and Reinsurers (ABIR) has announced that re/insurance firms Aeolus Capital Management, Ariel Re and Fortitude Re will join ABIR for 2021.
“I am pleased to welcome Bermuda international risk transfer leaders Aeolus, Ariel Re and Fortitude Re to ABIR,” said Albert Benchimol, President & Chief Executive Officer (CEO) of AXIS Capital and Chairman of ABIR.
“Through ABIR, Bermuda’s leading insurers and reinsurers collectively represent the industry at home and abroad and these leading international companies help build upon the important public policy, advocacy and education work ahead for 2021.”
The first of the three companies, Aeolus, is a Bermuda domiciled reinsurance and insurance-linked securities (ILS) focused investment fund manager, led by CEO Andrew Bernstein.
Ariel Re, meanwhile, was until recently the property and casualty reinsurance underwriting unit of Argo Group. However, in November it was sold to private equity investors Pelican Ventures and J.C. Flowers, who have since appointed Ryan Mather as Ariel Re’s new CEO.
Finally, Fortitude Re is an independent multi-line provider of run-off management solutions backed by a consortium institutional investors led by The Carlyle Group and T&D Insurance Group. It is led by CEO James Bracken.
“The Bermuda re/insurance market capacity, capital and talent are critical to the international challenges of 2021. ABIR is pleased to be joined by these global leaders,” said John M. Huff CEO of ABIR.
“Advancing the ABIR value-proposition has never been more important as are member companies offer global, well-regulated capital management tools, protection and peace-ofmind to consumers and businesses in over 150 countries.”