Soros takes stake in reinsurance firm

Steve Hawkes, Evening Standard,
14 December 2004

BILLIONAIRE George Soros is ploughing some of his $13bn (£7bn) empire into a new reinsurance venture.

The Hungarian-born US financier is taking a major shareholding in Glacier Re, a Swiss-based company that plans to cash in on the bullish insurance market by launching in January.

Glacier will begin with just £160m of equity capital and plans to concentrate on niche markets such as catastrophe reinsurance, marine and energy and war and terrorism.

It is the latest high-profile launch in a sector that has already attracted the attention of the 'Sage of Omaha' Warren Buffett, as premium rates continue to hold at their recent high levels.

http://www.thisislondon.co.uk/news/business/articles/timid396360?source=
Guess he's dumped the Ukraine as an emerging market after that election-rig guy drank the dioxin soup and got the measles look....