Hildene Capital Management, a $12 billion credit-focused asset manager, has formed Ludlow Re SPC, Ltd, a Cayman Islands-based, Class B(iii) insurance company.
Hildene Capital Management (Hildene), a $12 billion credit-focused asset manager, has formed Ludlow Re SPC, Ltd (Ludlow Re), a Cayman Islands-based, Class B(iii) insurance company.
Ludlow Re will offer reinsurance to the global insurance market and, as part of its inaugural transaction, will reinsure approximately $1 billion of fixed index annuity reserves through a quota share agreement entered into with a US-based life insurance carrier.
Ludlow Re received its B(iii) insurance license from the Cayman Islands Monetary Authority in September 2022.
