New York-based asset manager, Rosh Capital Management, has announced that it plans to launch a Bermuda-based reinsurer, to be called Rosh Re Ltd.
The reinsurer will provide traditional reinsurance and bespoke rehabilitative solutions, although this is subject to requisite regulatory approvals.
It will be funded by a $600 million USD lead investment from WM Holding AG, the family office of visionary and successful industrial investor, Ajay Kumar.
Once the reinsurer has its license, it will initially focus on writing global and diverse specialty casualty lines of business, leveraging senior managements’ expertise and connectivity with underwriting companies.
The reinsurer will also provide bespoke rehabilitative solutions to help insurers leverage surplus relief and free their capital to deploy in the hardening market.
Kumar said: “I am excited to invest in Rosh Capital Management LP’s differentiated reinsurer and to partner with Michael and his team.
“I have been seeking to capitalize on the exceptional opportunity this hardening market brings and found Michael’s unique strategy compelling and unlike any I have seen in the reinsurance space.
“His strategy benefits from the hardening market while managing insurance and investment risk to generate optimal value throughout the cycle. We are cautious in how we deploy our capital and felt strongly that Rosh’s strategy strikes the right balance.”
Michael Jacobs, CEO of Rosh Capital Management LP added: “I’m delighted to have the support and backing of Ajay and his team. We are ideally positioned to create exceptional shareholder value with modest risk and volatility while diligently managing risk on both sides of the balance sheet.”
