Stone Point and XL Group Form New Reinsurance Company
July 29, 2013
Stone Point Capital and XL Group (NYSE: XL) have formed a new Bermuda-based company that will act as an investment manager in insurance-linked securities and other reinsurance capital markets products. XL has a 75% stake in the new company and Stone Point owns the remaining 25%. They intend to invest up to $135 million in the company alongside potential third party investors. Stone Point is a private equity firm focused on the financial services industry.