Fermat Capital Management is a Westport, Connecticut-based registered investment adviser and investment manager focused on insurance-linked securities, catastrophe bonds and reinsurance-related risk. Through Fermat Re, it applies reinsurance underwriting, analytics, portfolio management and proprietary CatAPM models for insurance capital partners. For founders, it is most relevant in insurance, insurtech, analytics, finance and cybersecurity, with U.S. Series A investment activity.