News Room
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Prime Management Becomes Listing Sponsor With The Bermuda Stock Exchange
Posted on May 17th, 2011 by Prime
Hamilton, Bermuda – 16 May, 2011 – Prime Management Limited, a leading specialist fund administrator to the Hedge Fund and Risk-Linked Investments (“RLI”) market, announced today that they have been approved as a Listing Sponsor with The Bermuda Stock Exchange (“BSX”), effective 09 May 2011.
As a BSX Listing Sponsor, Prime Management Limited (“Prime”) has the ability to sponsor applications for new listings on the BSX for a variety of securities including investment funds, insurance linked securities including catastrophe bonds, other fixed income securities, depository receipts, as well as the secondary listing of equities.
“Prime has been servicing the specialized requirements of investment structures, sponsors and managers in the collateralized reinsurance and RLI market since 2002. Our ability to act as Listing Sponsor to Catastrophe Bonds and investment structures devoted to the RLI market will greatly enhance the scope of our product offering to our RLI clients and demonstrates our commitment to being the top administrator servicing the RLI market, “ stated John Whiley, Head of Prime’s specialized collateralized reinsurance and RLI services group.
BSX CEO Greg Wojciechowski stated, “We are delighted to welcome Prime to the Bermuda Stock Exchange. We firmly believe that this alliance will further strengthen and enhance our respective lines of business as well as demonstrate the vibrancy and future growth potential of the insurance linked securities market in Bermuda.”
Prime’s RLI Team is comprised of professionals focused on the evolving requirements of the industry. Prime has the requisite expertise and training to service the most sophisticated portfolios of risk-linked investments.
Prime Management Limited
Since 1997, Prime has been providing high quality fund administration services to onshore and offshore hedge funds engaging in a multitude of investment strategies. Prime is licensed and regulated by the Bermuda Monetary Authority under the Investment Funds Act 2006 and has successfully completed a SAS 70 Type II Review Certification. For more information, contact John Whiley at 1-441-295-0329 ext. 512, johnwhiley@primebermuda.com, or http://www.primebermuda.com.
Bermuda Stock Exchange
Established in 1971 the Bermuda Stock Exchange (BSX) is now the leading fully electronic offshore securities market. The BSX specializes in listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants and Insurance Linked Securities. For more information, contact Daniel Matthews at 1-441-292-7212, dmatthews@bsx.com, www.bsx.com, or on Bloomberg at BSX <GO>.
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Straight Through Processing Technology Utilized By Prime Named as Finalist for Prestigious Award
Posted on April 11th, 2011 by Prime
Prime is proud to announce that the Caswil STP Suite technology utilized by Prime has been nominated as a finalist for the FTF News Technology Innovation Awards 2011 in the category of Reconciliation & Exceptions Management – Best Automated Solution. The Caswil STP Suite facilitates an automated workflow and the straight through processing of various trade files, security setups and position reconciliations. Prime is committed to the selection of state of the art technology for all its integral processes and is delighted that the excellence and innovation of Caswil has been formally recognized.
FTF News is an online newsletter, which is focused on securities trading and operations. It offers a global interactive community where readers can find original editorial content, daily news, in-depth analysis and industry research.
The 2011 award winners will be announced on April 14, 2011. To read more about the award please visit the Financial Technologies Forum LLC.
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CATCo Investment Management Ltd. Hires Prime Management to Administer Collateralized Reinsurance Funds
Posted on January 11th, 2011 by Prime
HAMILTON, BERMUDA – January 2011 - Prime Management announced today their appointment as administrator to the CATCo Reinsurance Fund Ltd. and the CATCo Reinsurance Opportunities Fund Ltd. (“Opportunities Fund”). Both funds are dedicated vehicles to allow participation by investors in the collateralized reinsurance market. The Opportunities Fund has the added distinction of being the first to be listed on the London Stock Exchange.
The Opportunities Fund, which initially raised $80 million in capital, is intended to offer investors the opportunity to participate in a diversified and fully collateralized portfolio of catastrophic risk with low correlation to traditional asset classes.
“Prime Management’s experience, capability and responsiveness have made Prime the leading provider of fund administration services to the collateralized reinsurance market and the natural choice for CATCo’s new investment companies” stated Jason Bibb, COO & CFO of CATCo Investment Management Ltd.
John Whiley, Head of Prime’s Risk-Linked Investment (RLI) Team, added, “Innovation is at the forefront of the RLI market and we are very pleased to be able to work with CATCo on the launch of this new and exciting product within the RLI market.”
About CATCo
CATCo Investment Management Ltd. is a specialist investment management business based in Bermuda. CATCo manages growing assets in various insurance-based instruments, including insurance-linked and other financial instruments, through collateralized reinsurance funds for clients across Europe, North America, Bermuda and around the world. As an investment boutique CATCo builds concentrated, diversified and fully collateralized portfolios designed to deliver meaningful outperformance with low correlation to traditional asset classes for clients. CATCo blends the best attributes of both large and small investment managers, and our vibrant, entrepreneurial culture means acting quickly to meet the needs of our growing number of clients. For information, visit www.catcoim.com.
About Prime
Prime has been servicing the specialized requirements of the collateralized reinsurance and RLI market since 2002. The RLI Team is a dedicated, specialized service team within Prime’s main Administrative Services Group. Prime’s team is comprised of professionals focused on the evolving requirements of the industry, with the requisite expertise and training to service the most sophisticated portfolios of risk-linked investments. Prime is a true independent administrator, which is licensed and regulated by the Bermuda Monetary Authority under the Investment Funds Act 2006. For information, visit www.primebermuda.com.
Contact: Fred T Busk III
Phone: (203) 987-5062
Email: fredbusk@primebermuda.com