September 2012 Bermuda Re/insurance 25
fund-backed reinsurers that have launched on-island in 2012. Able to draw upon the enviable investment management capabilities of SAC Capital Advisors, LP, a global investment management firm headquartered in Stamford, Connecticut, the company is looking to take a disciplined approach to its reinsurance underwriting that will generate attractive returns through market cycles. Simon Burton, a veteran of the Bermuda insurance scene who has lived on the Island for 19 years, is bullish about its prospects.
S
Why did SAC Re opt to establish its presence in Bermuda? We considered various options through a comprehensive process,
but in the end, Bermuda emerged as the clear choice. There is an established marketplace, a respected regulator and a large pool of skilled personnel, which in my opinion makes Bermuda the best place to start a reinsurance company.
Which lines of business are you looking to write and where do you see SAC Re developing its offering?
Ours is a very specific plan: to write a mixture of property cat reinsurance business—a global book with a North American focus—
AC Re joins Third Point Re and PAC Re in a group of hedge-
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