BFD Benfield Group

    RNS Number : 0431W
  Benfield Group Limited
  05 June 2008
   

    



    5 June 2008

    Benfield Announces US$20.5m Investment in Globe Re


    Benfield Group Limited, the world's leading independent reinsurance and risk intermediary, today announced it has made a cash investment
of US$20.5 million into Globe Re, a new limited-life reinsurance vehicle that will participate in a portfolio of US property catastrophe
risks sponsored by Hannover Re.

    Benfield Advisory, Benfield's specialist corporate finance and advisory business, is the joint structurer and placement agent for the
vehicle which will underwrite business from 1 June inception. This is the third major sidecar vehicle providing significant capacity for US
natural catastrophe risks created by Benfield Advisory.  

    Grahame Chilton, Chief Executive of Benfield commented: "Benfield Advisory led the way in creating capacity for our customers' Florida
catastrophe exposures with Starbound I in 2006 and Starbound II in 2007.  Once again, we have demonstrated the strength of our capabilities
in the capital markets interface with the reinsurance sector.  I am delighted that we have made an investment in this innovative vehicle."  
 



    -ENDS-
    Contacts:
    Analysts & Investors
    Julianne Jessup                                     Benfield                               +44 (0) 20 7578 7425
    Rob Bailhache                                       Financial Dynamics              +44 (0) 20 7269 7200
    Media
    David Bogg                                            Benfield                               +44 (0) 20 7522 4016
    Peter Rigby/David Haggie                       Haggie Financial                   +44 (0) 20 7417 8989


    Benfield is the world's leading specialist reinsurance and risk intermediary. Its customers include many of the world's major insurance
and reinsurance companies as well as government entities and global corporations. Benfield operates from more than 50 locations worldwide.
Benfield is listed on the London Stock Exchange under the ticker symbol BFD. www.benfieldgroup.com.

This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
MSCDGGGVRKMGRZG

Benfield (LSE:BFD)
Historical Stock Chart
Von Jun 2024 bis Jul 2024

Benfield (LSE:BFD)
Historical Stock Chart
Von Jul 2023 bis Jul 2024