Cartesian Capital Group has formed Iris Reinsurance Ltd., a Bermuda-based provider of industry-loss warranties. No financial terms were disclosed. Iris Reinsurance will be run by Chase Toogood (formerly with Credit Suisse and ACE Capital Re) and Schuyler Havens (Freestone Capital Management).
Cartesian Capital Group, a global private equity firm, today announced the creation of Iris Reinsurance Ltd., an authorized Class-3 reinsurer based in Bermuda. Formed in conjunction with Chase Toogood and Schuyler Havens, “IrisRe” will offer reinsurance primarily in the form of industry-loss warranties and cover a wide spectrum of catastrophic perils globally.
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