KaylaRe Ltd. (“KaylaRe”) is a Bermuda-based reinsurer offering a diversified range of specialty reinsurance solutions to the global insurance market.
Launched in December 2016 with approximately $620 million of capital, KaylaRe is a registered Class 4 Insurer with the Bermuda Monetary Authority, and a wholly-owned subsidiary of KaylaRe Holdings Ltd. (“Kayla Holdings”).
KaylaRe seeks to deliver superior risk-adjusted returns over market cycles through a diversified asset allocation – managing capital between underwriting and investing.
KAYLARE IS A REGISTERED CLASS 4 INSURER
UNDERWRITING
KaylaRe’s initial business model is to source reinsurance business primarily from Enstar Group Limited (“Enstar”) and its subsidiaries (“affiliated business”). Enstar is a leading global insurance and reinsurance group (ticker symbol “ESGR”), with total assets of $14.8 billion and total shareholders’ equity of approximately $3.0 billion as of September 30, 2017.
Through Enstar, KaylaRe has long-term access to a high-quality, diversified portfolio of low volatility specialty insurance risks and supporting infrastructure. Our Board and management team will also leverage Enstar’s industry expertise to support the administration and execution of our business.
As well as growing affiliated business premiums and profitability, KaylaRe also aims to carefully and opportunistically build non-Enstar sourced reinsurance business.
ASSET MANAGEMENT
KaylaRe launches with initial capital of $620 million, backed by significant investments from Enstar; funds managed by Hillhouse Capital Management, Ltd., a leading global investment manager with over $25 billion in assets under management (“Hillhouse”); and funds managed by Stone Point Capital LLC, a financial services-focused private equity firm with aggregate committed capital of approximately $13 billion (“Stone Point”).
Enstar and Hillhouse will act as exclusive reinsurance manager and primary investment manager to KaylaRe, respectively.
KaylaRe seeks to deliver high risk-adjusted returns from investable assets whilst providing capital preservation and liquidity by way of a diversified asset allocation strategy. We aim to deliver this primarily through a multi-asset class portfolio managed by leading asset managers consisting of debt instruments (including structured products), public and private equities, and diversified hedge fund investments. As part of our investment strategy, we will source global opportunities with a focus on North America, Europe, and Asia.