AlphaCat Re 2012 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 Re 2012 Ltd. sidecar snapshot

  • Reinsurance sidecar: AlphaCat Re 2012 Ltd.
  • Sponsor: AlphaCat Managers (Validus)
  • Launched: June 2012
  • Latest size: $70m (as at June 2012)

AlphaCat Re 2012 Ltd. sidecar details

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.

At the time of launch, Ed Noonan, Chairman and CEO of Validus commented; “We are very pleased to be able to provide additional capacity to our customers, and with the level of support for AlphaCat 2012 provided by investors and intermediaries.”

June 2011 saw Validus Holdings launch its first special purpose sidecar reinsurer, AlphaCat Re 2011 Ltd., with $150m of capital. $80m of the fully-collateralized reinsurance sidecar came from third-party investors, with Validus contributing the remaining $50m.

In 2013 Validus launched AlphaCat 2013 Ltd. with $230m of capital, of which $185m was contributed from third-party investors.

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