Vario wins Middle East backing

Vario Partners has won backing from a large Middle Eastern
reinsurer as it prepares to launch its first fund and issue its
first whole-account insurance securities, the company told sister
publication Trading Risk.
The Vario Global Capital fund has been in development since last
year, when the structuring firm established an alliance with Guy
Carpenter. The company has also appointed two new staff - former JP
Morgan banker Mike Kontaratos as head of investment and
ex-Lloyd's analyst Markus Gesma