Arch Capital and private equity firm Kelso & Co have backed the $510mn launch of a new legacy reinsurer, Premia Re.
The remainder of the capital was provided by institutional investors, the new carrier's management team and by senior Arch executives.
"In addition to its equity investment, Arch will serve as a key strategic reinsurance partner, allowing Premia to compete on the largest global run-off transactions," Premia said.
Premia Re does not have a rating. The vehicle is led by...
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