Bermuda’s Juniperus Bought Out

January 26, 2012

Insurance-specialist private equity investor Aquiline Capital Partners has bought out the existing shareholders of Bermuda-based catastrophe investment manager Juniperus Capital Ltd [JCL], industry journal “Trading Risk” reports today [Jan. 26].

The deal, which closed last week, saw Jeffery Greenberg-led Aquiline and JCL management buy out a number of JCL equity partners including Aon Benfield, Japanese conglomerate Itochu Corporation and reinsurer Transatlantic Holdings.

Aon Benfield launched the manager in May 2008 with a $50 million investment.

The company takes its name from the tree Juniperus Bermudiana — or the Bermuda Cedar. Since the species is exceptionally resistant to both wind and salt and Bermuda Cedars are among the least damaged trees after hurricanes, the founders of the catastrophe investment firm decided it made an appropriate name for their local venture.

Mr. Greenberg is a former chairman and CEO of Marsh & McLennan Companies. His father is insurance industry legend Maurice R. [Hank] Greenberg, former chairman and CEO of AIG, and his brother Evan Greenberg is president and CEO of the Zurich- and Bermuda-based insurance company ACE Limited.

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