Paulson Reinsurance Company in Bermuda to Wind Down
The Bermuda-based reinsurance company set up by the hedge fund manager John A. Paulson has stopped writing policies and is winding down as scrutiny of offshore tax strategies rises.
.. It is one of a few Bermuda reinsurers set up by hedge funds in recent years. The managers have been able to take advantage of a strategy that gave more favorable long-term capital gains tax treatment on trading profits if they moved their investments through an insurer based in a low-tax jurisdiction such as Bermuda.