PENTELIA RE WILL COVER REMOTE PROBABILITY EVENTS

A joint venture between Bermudian p/c insurer and reinsurer White Mountains and investment bank and French investment operation Natixis has created Pentelia Re, a Bermuda-based reinsurer that will offer direct reinsurance on a collateralised basis. The founding companies announced that Pentelia Capital Management, the new company which has formed Pentelia Re as part of its operations portfolio, would “invest in a number of remote probability insurance events and to deliver a consistent return with little-to-no correlation with financial markets”.