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LGT Capital Partners builds-out Lumen Re and welcomes external equity investor

LGT Capital Partners (LGT CP) has welcomed US-based investor The Kresge Foundation as a new external co-investor as part of the further build-out of Lumen Re and confirmed the roles of two senior managers in Bermuda.

Lumen Re serves as a cornerstone of LGT Capital Partners’ ILS investment activity, both as a dedicated property catastrophe reinsurance carrier, and as a fronter/service provider to the LGT CP ILS fund suite. The reinsurer was established by LGT Capital Partners’ specialist ILS team (LGT ILS Partners) in 2012 to facilitate the structuring of investments in ILS on behalf of ILS funds and mandates of LGT Capital Partners. In 2017, Lumen Re was upgraded to a fully regulated commercial reinsurance carrier.
 
Structured as a co-investment alongside the Princely Family of Liechtenstein acting as key equity investor, The Kresge Foundation’s direct equity investment in Lumen Re allows for the most efficient allocation to insurance-linked strategies (ILS) for any long-term investor.
   
Additionally, Lumen Re has confirmed the roles of Klaus Sapelza as chief underwriting officer and Mario Spescha as chief operations officer at Lumen Re in Bermuda; both formerly part of the ILS team at LGT Capital Partners in Switzerland.
 

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