Fleming Insurance Holdings and Altamont Capital Partners expect cedents to embrace their flexible, proprietary Planned Loss Portfolio Transfer (LPT) solution as it looks to capitalise on the big opportunity that is the casualty insurance-linked securities (ILS) market.
Fleming Insurance Holding has hired Samir Khare to head up its nascent casualty ILS platform buildout as a part of a $150 million capital infusion by Altamont Capital and Fleming Corp.
PALO ALTO, Calif., May 16, 2022 /PRNewswire/ — Altamont Capital Partners today announced that the firm has acquired a majority stake and made a $150M growth capital commitment to Fleming Holdings (“Fleming”). The partnership will allow Fleming to grow into an all-encompassing capital solutions provider to property and casualty (P&C) insurance companies.
Altamont Capital Partners has bought a majority stake in Fleming Holdings and committed $150mn of capital to the platform as it looks to grow with an expanded suite of legacy and prospective capital solutions aimed at middle market P&C carriers, The Insurer can reveal.
In addition to the change to more ‘benefit-focused’ solutions, the industry has experienced a significant amount of advancement as a result of a variety of other factors. These include market dis- ruptions, changes in the regulatory envi- ronment, client-driven innovations and the application to new industries.
Fleming Re Holdings LLC (“Fleming Re”) signed an agreement to acquire, subject to regulatory approval, Sinclair Insurance Company (“Sinclair”). Sinclair was utilized to provide reinsurance to the primary insurers of certain casualty risks of affiliated companies. The acquisition provides the Shareholders of Sinclair with an exit solution allowing full legal finality, elimination of operating expenses, […]
Fleming Reinsurance Ltd. (“Fleming Re”) recently completed the novation of the workers compensation deductible layer of Duarte Nursery, Inc. (“Duarte”). The novation provided Duarte with full legal finality and a release of capital. Duarte Nursery, Inc. is a family owned and operated nursery located near Modesto in the Central Valley of California. Duarte Nursery is […]
Fleming Reinsurance Ltd., a Bermuda limited liability company incorporated on March 6, 2015 and licensed as a Class 3 insurance company on May 21, 2015 under the Insurance Act 1978 and its related regulations, each as amended (Insurance Act). Historically, the Company was used to write P&C insurance coverage primarily for related party subsidiaries of Fleming Corp.
Fleming Reinsurance Ltd., a Bermuda limited liability company incorporated on March 6, 2015 and licensed as a Class 3 insurance company on May 21, 2015 under the Insurance Act 1978 and its related regulations, each as amended (Insurance Act).
Historically, the Company was used to write P&C insurance coverage primarily for related party subsidiaries of Fleming Corp.
Eric Haller of Fleming Re addresses how run-off solutions can support recent changes in risk management strategies and the impact of the global coronavirus pandemic