Sequant Re, the Bermudian ILS and collateralized reinsurance company aiming to make it simpler for investors to access the returns of re/insurance risks, is taking a new investment in its holding company, Sequant Re Holdings Limited.
The investment comes from a company that originally took a stake in Sequant Re when it was in the early stages of starting up.
Premier Diversified Holdings Inc. said today that it intends to acquire up to USD$316,000 worth of shares in Sequant Re Holdings Limited, at $2 per share, to hold for investment purposes only.
Premier already held approximately 32.37% of the issued and outstanding common shares of Sequant Re’s holding company and said it is acquiring additional shares in order to allow it to maintain a similar equity position, while reducing dilution of its holdings.
“As the primary shareholder behind Sequant Re, Premier continues to support our boutique reinsurance company as it continues to build out its book of business, reputation and its unique offering in the insurance-linked securities market under Guy Cloutier,” commented Premier CEO and Sequant Re director, Sanjeev Parsad.
Sequant Re underwrites fully collateralised reinsurance transactions, through the issuance of insurance-linked securities backed by third-party investors. The firm hopes to make it easier for new investors to enter the sector and for experienced ILS investors to access new portfolios of reinsurance risk.
Premier is a diversified holding company which began as a medical diagnostic device company. It invested in Sequant Re right at the start, seeing it as an attractive investment to gain exposure to the reinsurance sector.