July 27, 2006
Aeolus Ltd. announces its entry into the global reinsurance market with an initial capitalization of up to $500 million financed by a group led by Willkie client Warburg Pincus, the New York-based private equity firm, Arch Capital Group Ltd. and the company’s founders.
On July 26, Bermuda-based Aeolus Ltd. announced its entry into the global reinsurance market with an initial capitalization of up to $500 million financed by a group led by Willkie client Warburg Pincus, the New York-based private equity firm, Arch Capital Group Ltd. and the company’s founders. Aeolus Ltd., through its wholly owned subsidiary, Aeolus Re Ltd., will operate as an unrated reinsurance platform initially targeting the property catastrophe segment of the worldwide reinsurance market. Aeolus Re will provide property catastrophe protection to insurers and reinsurers on both an ultimate net loss and industry loss warranty basis. The transaction was handled by partners Jeffrey Hochman, Steven Gartner and Henry Cohn, and associates Natasha Friedrichs, David Rubinsky, John Rudy and Christopher Peters.
