Upsilon Reinsurance

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.

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Upsilon Reinsurance sidecar snapshot

  • Reinsurance sidecar: Upsilon Reinsurance
  • Sponsor: RenaissanceRe
  • Launched: January 2014
  • Latest size: ?

Upsilon Reinsurance sidecar details

The Upsilon Reinsurance Fund Opportunities Ltd. (Upsilon Reinsurance sidecar, or Upsilon RFO) was launched in January 2014 by Bermudian reinsurance and third-party capital management specialists, RenaissanceRe (RenRe). The fully-collateralized reinsurance sidecar is a Bermuda domiciled special purpose insurance vehicle, enabling RenRe to leverage its own capital, as well as any raised from third-party institutional investors, in underwriting property catastrophe retrocessional reinsurance business.

The total capitalisation of the Upsilon Reinsurance sidecar was not disclosed by RenRe, although the reinsurer did note earlier in the year that it wished to increase the size of its Upsilon sidecar vehicle for the January renewals.

A year prior to the launch of the Upsilon Reinsurance sidecar in January 2014, RenRe launched a $185m fully-collateralized reinsurance sidecar vehicle, Upsilon Reinsurance II Ltd.

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