BlackRock News

Hedge Fund Managers Benefit from Fee-Paying Reinsurer Units

Stock pops or stock drops, there’s always been at least one winner when it comes to Daniel Loeb’s reinsurance company: Daniel Loeb’s hedge fund. Loeb’s Bermuda-based Third Point Reinsurance Ltd. paid $98.8 million since 2013 to the entities that manage …

ACE Q2 Profit Climbs in First Earnings Report After Chubb Announcement

ACE Ltd., the insurer that agreed this month to acquire Chubb Corp., said second-quarter profit rose 21 percent as policy sales climbed. Net income increased to $942 million, or $2.86 a share, from $779 million, or $2.28, a year earlier, …

Low Interest Rates ‘Harmful’ to Insurers & Pension Funds: BlackRock CEO

Lowering interest rates around the world to boost the global economy has reached a point where it is now “quite harmful” to clients, including pension funds and insurers, BlackRock Inc. Chairman and Chief Executive Officer Laurence Fink said. The “low …

BlackRock, ACE Raise $800 Million to Form Bermuda Reinsurer

BlackRock Inc., the world’s largest money manager, and Evan Greenberg’s ACE Ltd. raised $800 million for a reinsurance venture, at the low end of the announced range. ABR Reinsurance Capital Holdings Ltd. raised the funds through a private placement, the …

ACE, Blackrock Seek Up to $1.3 Billion for Bermuda Reinsurance Venture

BlackRock Inc., the world’s largest money manager, and Evan Greenberg’s ACE Ltd. are forming a reinsurance venture that is seeking to raise $800 million to $1.3 billion. The business is named ABR Reinsurance Capital Holdings Ltd. and is based in …