MIT climate alarmist Kerry Emanuel told Mother Jones that Republican climate skepticism made him “ashamed to be an American.” Here’s perhaps another reason for him to be ashamed.
Emanuel apparently sits on the board of AlphaCat Fund, a subsidiary of Bermuda-based Validus Holdings, a property and casualty insurer. Here’s the description of AlphaCat Fund:
The AlphaCat Fund and the AlphaCat High Return Fund invest in private reinsurance transactions as well as catastrophe bonds, a common type of ILS issued by insurance and reinsurance companies. Validus Managers leverages the Validus Group’s extensive business sourcing, underwriting, research and analytic capabilities to construct ILS portfolios with a superior long-term expected return subject to prudent risk constraints.
Is Emanuel helping an offshore insurer profit from the scare he’s helping to foment?