Kuvare Announces Formation of New Bermuda Reinsurer – Initially Provides Kuvare Access to $400 Million of Co-Investment Capital

Kuvare Holdings (“Kuvare”), a technology-enabled financial services platform focused on delivering life and annuity solutions to the underserved U.S. middle market, and reinsurance solutions to institutional partners worldwide, announced the formation of Kindley Re Ltd. (“Kindley Re”). Kindley Re, a newly formed Bermuda-domiciled reinsurer, will co-invest at least $400 million with Kuvare in qualifying life insurance and annuity transactions. Kindley Re was formed in partnership with Davidson Kempner Capital Management LP (“Davidson Kempner”) and Kuvare and its affiliates.

Artificial Intelligence News : Merlin AI, the Evolution of ChatGPT is Now a Freestanding Mobile App

Commenting on this launch, Kuvare Chairman and CEO, Dhiren Jhaveri, noted, “Kindley Re now provides significant additional capabilities for our enterprise as we continue to capitalize on attractive opportunities in the marketplace.”

Kindley Re has entered into reinsurance arrangements with Kuvare to participate in qualifying transactions, including both flow reinsurance transactions and block reinsurance transactions, generated by Kuvare’s insurance operating companies.

Artificial Intelligence Technology : How Artificial Intelligence Will Help Facilitate the Hybrid Working Environment

Kuvare, as sponsor of Kindley Re, will provide operational support to Kindley Re through its Bermuda-based service company. Additionally, Kuvare’s New York-based boutique asset management firm, Kuvare Insurance Services (“KIS”), which specializes in building tailored investment solutions for insurance companies, will serve as investment manager to Kindley Re, with Davidson Kempner also providing asset management support for Kindley Re for selected investment grade focused asset classes.

Michael Stefan, Head of Corporate Development and Strategy at Kuvare, stated, “Kindley Re now provides Kuvare with access to $400 million of additional capital with flexibility to increase over time. This co-investment vehicle provides a unique opportunity for investors seeking to deploy capital in this market segment, while supported by a range of capabilities across Kuvare and KIS.”

 AI in Advertising : AI in Advertising and Marketing – Hype, Disillusionment, Back to Hype Again?

 [To share your insights with us, please write to sghosh@martechseries.com]