The subject of hedge fund-backed reinsurers came up unexpectedly when Carrier Management recently asked A.M. Best’s Matt Mosher, senior vice president of rating services, about loss reserve issues—and a reinsurance deal that Liberty Mutual recently announced with Berkshire Hathaway—to put some certainty around their reserves for workers compensation and asbestos liabilities.

Q: Do you think that’s a one-off situation? Do you expect to see more of those in the future?