Pine River Re disbanded after AM Best rebuff

Proposed start-up Pine River Re has been disbanded after the hedge
fund reinsurer failed to secure the A- rating it was seeking from
AM Best, The Insurance Insider has
learned.
According to sources, after months of negotiations through
committee stages and appeals with the ratings agency, joint
sponsors Pine River Capital Management and Allied World have
decided to dissolve the project.
It is thought that the management team that would have led the
start-up if it had gone live have...