Reinsurance sidecars news

The reinsurance market is expected to bear the brunt of losses from the collapse of the Francis Scott Key Bridge in the US city of Baltimore after container ship Dali struck one of its support columns, which rating agency AM Best said will add to the increasing challenges of reinsurance availability.

According to Jay Madhu, the Chairman and Chief Executive Officer of Cayman headquartered reinsurer Oxbridge Re, the firm’s first series of tokenized reinsurance sidecar securities are set to deliver investors a 45% return, surpassing the initial expectation of 42%.

Capital continued to rotate from one insurance-linked securities (ILS) instrument to another in 2023, but AM Best analysis suggests some sectors may becoming better primed for growth through 2024.

AXIS Capital, the Bermuda based specialty insurance and reinsurance company, has now established a third collateralized insurer class of company on the island to support the continued expansion of its Monarch Point Re casualty insurance-linked securities (ILS) platform.

Oxbridge Re Ltd., the Cayman Islands based reinsurance company, has launched its second reinsurance sidecar fundraising effort through the sale of up to $10 million of EpsilonCat Re tokenized reinsurance securities issued by its subsidiary SurancePlus Inc.

Rating agency AM Best has highlighted disciplined capital deployment as a feature of the insurance-linked securities (ILS) market in 2023, which, thanks in part to sustained strong pricing in reinsurance, experienced a record-breaking year.

Reinsurance Group of America (RGA) intends to make its relatively recently launched third-party capital-backed life reinsurance sidecar company Ruby Reinsurance (Ruby Re) a core component of its more asset intensive business.

PGGM, the Dutch pension investment manager that allocates the largest amount to the insurance-linked securities (ILS) market on behalf of end-client the Dutch pension PFZW, ended 2023 with just over US $9 billion in ILS assets under management, as a slight uplift in capital deployed in euro terms and currency rates lifted AUM to a […]

Mt. Logan Re Ltd., the Everest Group owned and operated third-party investor capitalised reinsurance sidecar-like investment structure, has strengthened its investor relations team with the addition of two key hires.

Fitch Ratings believes that the trend of net outflows that has been seen across insurance-linked securities (ILS) funds and structures that allocated capital directly to private reinsurance and retrocession arrangements is now over, with assets now deemed more stable, suggesting a chance of more consistent growth is ahead.