Elementum Advisors, an investment advisor specializing in collateralized natural event reinsurance investments, has sold a minority stake to White Mountains Insurance Group, Ltd. (NYSE: WTM), a Bermuda-domiciled financial services holding company.
Elementum's principals will continue to grow and operate the business, and White Mountains will invest $50 million across Elementum's funds.
Founded in 2009, Elementum is an industry-recognized alternative investment management firm, with a portfolio serving institutional investors and sovereign wealth funds. Elementum manages portfolios across a range of liquidity and risk/return profiles, including catastrophe bonds and collateralized reinsurance investments. The Company is the third largest independent manager of insurance-linked securities ("ILS") and manages over $4 billion in assets.
White Mountains is a Bermuda-domiciled financial services holding company traded on the New York Stock Exchange and the Bermuda Stock Exchange under the symbol WTM.