New reinsurer aims for $1bn capital

Canadian financial services company Trilon is spending US$200mn to set up a new reinsurer in Bermuda. Imagine Re would be a so-called ‘second-generation’ finite reinsurer paying special attention to asset management, it said. The two co-chief executives said they hoped to increase Imagine Re’s capital base to $1bn over the next two years to enhance its goal of becoming the leading provider of structured insurance and reinsurance capital.