Stone Point Capital LLC, led by Chairman Stephen Friedman, joined XL Group Plc in a new venture to oversee insurance-linked securities.
XL and funds managed by Stone Point will invest as much as $135 million, the companies said today in a statement distributed by PR Newswire. XL will have a 75 percent stake in the company, according to the statement.
To contact the reporter on this story: Noah Buhayar in New York at firstname.lastname@example.org
To contact the editor responsible for this story: Dan Kraut at email@example.com