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Hedge Funds Move In On Reinsurance Market

by Carla Johnson, Investors Offshore.com

17 December 2004


Hedge funds are beginning to muscle in on the reinsurance market in a bid to generate more diversified returns, reports suggest.

One notable hedge fund that has got in on the reinsurance act is Soros Fund Management (of George Soros fame) which along with the $5 billion hedge fund HBK Investments has helped to launch Glacier Re, a Swiss reinsurance firm expected to begin underwriting risks next month, according to CBS Marketwatch.

As assets have been poured into hedge funds at record rates over the last two years, concerns have been growing that there are now too many hedge funds chasing the same profit opportunities and returns have begun to dry up.

However, reinsurance is being seen as a good alternative investment tool as the fortunes of this market are largely uncorrelated with the equity and debt markets.

While hedge funds have dabbled with the market in the past few years, direct investments such as the Soros deal allow hedge fund to retain a greater degree of control over the reinsurance risks that they underwrite through private equity style deals.

A comprehensive report in our Intelligence Report series examining offshore investment, offshore stock exchanges, and hedge funds is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp

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