AlphaCat 2014 Ltd.

The Artemis Collateralized Reinsurance Sidecar Directory provides information on fully-collateralized reinsurance sidecar vehicles established to enable third-party investors to share in the returns of insurance or reinsurance business.

Unsure what a reinsurance sidecar is? Read our explanation here: What is a reinsurance sidecar?

AlphaCat 2014 Ltd. sidecar snapshot

  • Reinsurance sidecar: AlphaCat 2014 Ltd.
  • Sponsor: AlphaCat Managers (Validus)
  • Launched: January 2014
  • Latest size: $172m (as at October 2014)

AlphaCat 2014 Ltd. sidecar details

In January 2014 Validus launched its fully-collateralized reinsurance and retrocession sidecar AlphaCat 2014 Ltd., sized at $160m of which $138m, or 86.25% was contributed from third-party capital investors. The remaining balance was provided by Validus itself. By the end of October 2014 the AlphaCat 2014 Ltd. sidecar vehicle had grown its AuM to $172m.

Prior to this Validus, and again through its AlphaCat Managers Ltd. subsidiary, raised $230m of capital for a new 2013 reinsurance sidecar, named AlphaCat 2013 Ltd. The vehicle was again designed to invest in collateralized property catastrophe reinsurance and retrocession on a worldwide basis. Of the $230m the majority, $185m, was provided by third-party investors, with Validus contributing the remaining $45m.

Prior to the 2012 hurricane season Validus launched AlphaCat Re 2012 Ltd., a Bermuda domiciled special purpose vehicle formed to write collateralized reinsurance with a focus on the hurricane risks in the Florida insurance market. The fully-collateralized reinsurance sidecar vehicle launched with $70m of capital, some of which came from third-party capital investors and also from Validus itself.

June 2011 saw Validus Holdings launch its first special purpose sidecar reinsurer, AlphaCat Re 2011 Ltd., with $180m of capital. $130m of the fully-collateralized reinsurance sidecar came from third-party investors, with Validus contributing the remaining $50m.

In 2015 Validus launched AlphaCat 2015 Ltd. with $155m of capital.

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