Tuesday, Benfield Group Ltd. (BFD.L) announced that it made cash investment of US$50 million into Juniperus Insurance Opportunity Fund, which will be managed by Juniperus Capital Limited, or JCL.
Benfield noted that it possesses a significant shareholding in JCL having acquired shares at nominal value by way of a US$6,588 investment.
Further, Benfield committed to provide up to US$2 million in working capital to JCL.
Other substantial investors in the Fund include Transatlantic Re and JCL management.
JCL will be managed by Philip Lotz as executive chairman and Michael Cash as chief executive officer.
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