CATCo Investment Management, a Bermuda-based reinsurance linked asset manager, has unveiled its first traditional reinsurance investment strategy called, Aquilo Fund.
The new fund will be exposed to traditional global reinsurance risk, insurance-linked securities, and other financial instruments.
According to CATCo, the fund will be run by Tony Belisle, and co-managed by Charlie Vaughan and Rick Montgomerie, who recently joined CATCo as directors of underwriting.
Approved by the Bermuda Monetary Authority, Aquilo will launch with initial capital of $110m, with planned growth for 2015 to $250m.
CATCo said that Aquilo focus will be on providing catastrophic protections to the underserved small to mid-sized global insurance community.
CATCo Investment Management CEO, Tony Belisle, said: "Within the CATCo Group of Companies there is a growing suite of products individually tailored to meet the different investment criteria for both CATCo’s existing and potential investors.
"CATCo has a reputation for developing innovative solutions for its clients and we look forward to bringing our increasingly diversified investment strategies to the traditional reinsurance sector."