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Tangency Capital Launches $50 Mln Reinsurance Hedge Fund

(Reuters) Hedge fund firm Tangency Capital launched last week with $50 million in assets under management to bet on the reinsurance market ahead of the next hurricane season, one of its three founding members told Reuters on Wednesday. Last year was the worst on record for insurance losses from natural disasters, including hurricanes Harvey, Irma and Maria. But it also led to further capital-raising by funds in expectation of investor demand because of higher rates in the sector, particularly at renewal dates in June and July.

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