| Company | Third-party capital vehicles | Catastrophe Bonds | Other |
|---|---|---|---|
| ACE | Altair Re with $95m of third party capital to provide collateralized capacity for ACE Tempest Re (Apr 2013). Altair Re II formed again with $95m of capital (Jan 2014). | ||
| Achmea Reinsurance Company N.V. | Windmill I Re Ltd (Dec 2013) | ||
| Alleghany | Pangaea internal sidecar facility; Transatlantic is exploring alternative arrangements | Partnerships with Ares Management (July 2013) and Pillar Capital (Dec 2012) | |
| Allied World | Partnership with Aeolus Capital (Dec 2012). $83m in collateralzied quota share with Aeolus Re. Participation increased for 2014. |
||
| Amlin | Special Purpose Syndicate 6106 (since 2009) | Tramline Re II Ltd cat bond (Jun 2013). Tramline Re Ltd cat bond (Dec 2011). | Longstanding partnership with Leadenhall Capital (May 2008). |
| Arch | Launched Watford Re alongside Highbridge Principal Strategies (Apr 2014) | Arch owns 15% of Watford Re and will conduct all the underwriting; Watford Re will write a QS of Arch's property cat book | |
| Argo | Renewed property insurance & reinsurance sidecar Harambee Re (Jan 2014) | Loma Re (Dec 2013) | Formed ILS fronting partnership with Horseshoe Re (Mar 2014) |
| Aspen | Launched collateralized QS sidecar Silverton Re with $65 million of capital (Jan 2014) | Formed Aspen Capital Markets (Apr 2013);$100 million invested in third party vehicles | |
| Axis | Formed Axis Ventures with $50m of capital to write collateralized reinsurance (Jan 2014) | Northshore Re (Aug 2013) | Ben Rubin (ex-BoAML) appointed EVP Capital Markets (Jun 2013);peak exposures being cut via ILWs and additional retro |
| Beazley | Special Purpose Syndicate 6107 (since 2010) | Considering options | |
| Catlin | PPV provides collateralized reinsurance support for non-syndicate entities (Jan 2014); SPS 2088, 6111, 6112 (from 2012); SPS 6119 (from 2014) | Galileo Re (Oct 2013) | Catlin benefits from $300 million of third party capital support in 2014 |
| Endurance | Jerome Faure (ex-ILS Capital) appointed CEO Global Reinsurance (Feb 2013) | ||
| Everest Re | Mt. Logan Re (formed Jan 2013) provides $370m of collateralized property cat capacity (Jan 2014) | Kilimanjaro Re (Apr 2014) | David Whiting hired as CUO of Mt. Logan Re (Nov 2013); purchased ILW retro to reduce Florida PML (Jun 2013) |
| Hanover Re | Multiple sidecar sponsors | Multiple cat bond sponsors | Opened internal ILS fund to third parties via Leine Investment (Jan 2013) |
| Hiscox | Record third party support for Hiscox Re in 2014; SPS 6104 (since 2008); Kiskadee Re formed to write collateralized reinsurance (Apr 2013) | $110m deployed via collateralized ILS funds (Feb 2014); partnership and $30m investment with Third Point (Oct 2012) | |
| Lancashire | Kinesis Re I Ltd, multi-class collateralized special purpose insurer with $250m of limit deployed (Jan 2014); Accordion/Saltire sidecars (2012/13) | Darren Redhead (ex-DE Shaw) appointed to head Kinesis Capital (Mar 2013) | |
| Markel | Collateralized retro sidecar New Point Re VI launched with $215m of capital (Jan 2014) | ||
| Montpelier Re | Collateralized property cat reinsurance via Blue Water Re and Blue Capital Re | Blue Capital has $600m of collateralized reinsurance assets (Feb 2014);Daniel Brookman (ex-Barclays) hired as Head of Capital Markets (Jan 2014) | |
| Munich Re | Special purpose vehicle Eden Re provides $63m of aggregate XL capacity for 2014 | Multiple structure and sponsor of cat bonds | Third party ILS transactions doubled to $1.2bn in 2013; has operated an internal ILS fund for 6+ years; increased retro purchases in 2013 and 2014 |
| PartnerRe | Lorenz Re formed with $75m of third party capital to provide additional collateralized property cat capacity over a multi-year period (Mar 2013) | Has operated an internal ILS fund for several years | |
| Platinum | Purchased $50m of non-traditional cat cover in 2Q has ceded $75m of premium and reserves to Third Point Re since Oct 2012 | Reinsurance transaction with Third Point Re (Oct 2012) | |
| QBE | VenTerra Re (Dec 2013) | ||
| RenaissanceRe | Multiple sidecar sponsor; Upsilon Re renewed with $280m, targeting primarily structured aggregate reinsurance and retro on a worldwide basis (Jan 2014 | Mona Lisa Re (Jul 2013) | Internal ILS fund Medici opened to third parties (Jun 2013) |
| SCOR | Sidecar Atlas X ($55m of capital) provides 3 years of collateralized QS capacity to SCOR Global P&C's property cat book (Jan 2014) | Multiple cat bond sponsor | Atropos launched in 2011 with $100m of seed capital; the ILS team offers 4 funds to third party investors |
| Swiss Re | Sector Re sidecar series | Multiple cat bond structurer and sponsor | No plans to open internal ILS fund to third parties |
| Tokio Millennium Re AG | Omamori Jan (2014) | ||
| Validus | Collateralized property cat and retro via AlphaCat Re sidecar series ($204m of limit fully deployed in Jan 2014); top layer cat written via PaCRe (owned 10%) | AlphaCat (formed in 2008) had $1.6bn of assets under management at Jan 2014 | |
| White Mountains | Formed Class 3 Bermudian insurer Alstead Re to write collateralized reinsurance and retro (Sep 2013) | Launched Sirius Capital Markets (May 2013); formed Bermuda investment manager (Aug 2013) Sirius Capital Markets headed by Michael Halsband (ex-Deutsche Bank) and Deanne Nixon (May 2013) | |
| XL | New Ocean will invest in a special purpose reinsurer formed for the purpose of underwriting worldwide collateralized property cat XL. XL and Stone Point will commit $135m of seed capital to establish a Bermuda-based ILS manager (Jul 2013); Craig Wenzel (ex- Deutsche Bank) appointed SVP Capital Markets (Dec 2012) | New Ocean established in partnership with Stone Point; Chris McKeown hired as CEO (Nov 2013) |
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Data included in this Reinsurance Sidecar Directory is sourced from our own articles and data, industry connections and also a number of publicly available broker reports.
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