Hamilton: When your greatest strength is also your Achilles’ heel
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Hamilton: When your greatest strength is also your Achilles’ heel

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The total return reinsurance model has been one of the standout failures of the industry throughout the 2010s.

SAC Re and Third Point Re were established in 2012, joining forebear Greenlight Re, with a raft of partnership total return reinsurance vehicles following right up to 2016 including PaCRe, Watford Re, ABR Re, Align Re and Harrington Re.

At...

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