Bloomberg Law
Jan. 17, 2023, 11:47 AM

Two Firms Write Davidson Kempner’s $400 Million Reinsurance Deal

Rick Mitchell
Rick Mitchell
Freelance Correspondent

Kirkland & Ellis is advising private equity firm Davidson Kempner Capital Management on the formation of new Bermuda-domiciled reinsurer Kindley Re Ltd. in partnership with financial services platform Kuvare Holdings and its affiliates.

Certain entities and investment funds managed or advised by Davidson Kempner provided initial equity capital for the launch, according to Kuvare’s statement.

Kirkland said in a statement that it’s also advising Kindley Re on the transaction, which calls for the new reinsurer to co-invest at least $400 million with Kuvare in life insurance and annuity transactions. Kirkland is also advising on related reinsurance and asset management arrangements. ...

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