Timicuan Reinsurance III

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?

Timicuan Reinsurance III sidecar snapshot

  • Reinsurance sidecar: Timicuan Reinsurance III
  • Sponsor: RenaissanceRe
  • Launched: June 2012
  • Latest size: $55m (as at June 2012)

Timicuan Reinsurance III sidecar details

Bermuda based reinsurance group RenaissanceRe Holdings Ltd. (RenRe) launched its fully-collateralized reinsurance sidecar vehicle, Timicuan Reinsurance III (Tim Re III) in June 2012. The reinsurance sidecar was launched to create additional capacity for the Florida homeowners insurance market and will seek to capitalise on demand in the state and rising rates at the start of the Florida hurricane season.

At the time of launch, RenRe Chief Executive Officer (CEO), Neill A. Currie said; “Through this endeavour, we are able both to serve our customers’ needs and design a facility that allows investors to invest efficiently in the Florida reinsurance market.”

Three years earlier, in June of 2009, RenRe launched a fully-collateralized reinsurance sidecar vehicle called Timicuan Reinsurance II.

In June 2006 RenRe announced the launch of its first reinsurance sidecar venture under the Timicuan naming convention, the $70m Timicuan reinsurance sidecar vehicle.

Go back to the Artemis Collateralized Reinsurance Sidecar Directory.