Ireland-based insurance provider Apsley Specialty has partnered with international reinsurer PartnerRe to launch an underwriting service for the hedge funds that are seeking to meet Alternative Investment Fund Managers Directive (AIFMD) regulations.
PartnerRe will be a capacity provider for the project.
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James Lawrie has been named the executive director of the new underwriting service business. He has more than 10 years experience in the industry, including time at Towers Watson and Caliburn Capital Partners.
"These changes to the AIFMD will bring about new challenges and opportunities for the hedge fund industry. It’s a major development for fund managers as they’ll need to make sure they comply with the new regulations and our solution will allow them to do this," Lawrie said in a statement.
Recent changes to the AIFMD regulations require the majority of hedge fund managers to have liability risk insurance in place by 22 July 2014.
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