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?
Puma Capital sidecar snapshot
- Reinsurance sidecar: Puma Capital
- Sponsor: Bridge Re/AHJ
- Launched: May 2007
- Latest size: $182.5m (as at April 2008)
Puma Capital sidecar details
Puma Capital was launched in 2007 with a capital base of $182.5m, designed with a three-year duration. Issued by Bermudian reinsurer Bridge Re, which is wholly owned by investment bank Dresdner Kleinwort, the reinsurance sidecar vehicle subsequently closed a year later, in April 2008, owing to weaker market conditions.
The vehicle was launched to enable Bridge Re to write fully-collateralized worldwide property catastrophe retrocession cover, and was brokered by London market broker, Alwen Hough Johnson Ltd (AHJ)
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