Upsilon Reinsurance II 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?

Upsilon Reinsurance II Ltd. sidecar snapshot

  • Reinsurance sidecar: Upsilon Reinsurance II Ltd.
  • Sponsor: RenaissanceRe
  • Launched: January 2013
  • Latest size: $185m

Upsilon Reinsurance II Ltd. sidecar details

RenaissanceRe (RenRe) issued a $185m fully-collateralized reinsurance sidecar vehicle in January 2013, called Upsilon Reinsurance II Ltd. The fully-collateralized reinsurance venture was formed to take advantage of the January renewals by creating additional capacity for the worldwide aggregate retrocessional reinsurance market. The $185m of capacity in the reinsurance sidecar vehicle was contributed by RenRe and some external investors, although the exact split was not disclosed by the reinsurer.

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

In January 2014 RenRe announced the renaming of its Upsilon retrocessional reinsurance sidecar, to the Upsilon Reinsurance Fund Opportunities Ltd.

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