Reinsurance sidecars news

The continued scaling of alternative, or third‑party reinsurance capital further augmented property catastrophe capacity and increased competitive pressure at the January 2026 renewals, according to S&P Global Ratings, who projects that alternative capital will continue to reach new highs as it complements traditional reinsurance capital.

White Mountains has reported that its investment into the Outrigger Re collateralized reinsurance sidecar, which supports its P&C insurance and reinsurance subsidiary Ark, delivered pre-tax income of $45 million in 2025, of which $55 million was attributable to the 2025 underwriting year, partially offset by a loss of $10 million from the 2024 underwriting year.

After Beazley rejected Zurich’s acquisition proposals last month and in 2025, the pair have now reached an agreement in principle on the key financial terms of a possible recommended cash offer, with Zurich lifting the offer to a total value of up to 1,335 pence per Beazley share.

In order for the global insurance and reinsurance industry to meet the significant risk capital needs of the AI infrastructure and data centre build-out opportunity, securitization and third-party capital are going to be critical, Dean Klisura, CEO of Guy Carpenter said today.

Recent developments in the reinsurance and ILS sector are enabling a surge of investor interest in longer-tailed risks, such as casualty lines, due to notable advances in risk management technology and innovation, according to Aditya Dutt, President of Aeolus Capital Management.

Speaking last week in Mumbai, India at the 2026 IFSCA-IRDAI Global Reinsurance Summit, Shri K. Rajaraman, chairman, IFSCA, highlighted how the regulator is working on a framework that would enable re/insurers to set up reinsurance sidecars in a special purpose insurance (SPI) framework, and standardise parametric solutions to attract global institutional capital.

Arundo Re, the France headquartered international reinsurer, has announced the launch of the eighth vintage of its 157 Re reinsurance sidecar, with the 2026 issuance seeing new investors supporting the structure including Mutuelle Centrale de Réassurance.

Beazley has announced this morning that its board has rejected the acquisition proposal from Zurich Insurance Group, saying that the offer “materially undervalues Beazley and its longer-term prospects as an independent company.”

MS Amlin has promoted Sarah Wilson to Head of Outwards Reinsurance, a role which will see her guide the strategic direction of the company’s reinsurance buying, potentially influencing engagement within the ILS market, particularly through the firm’s Phoenix Re sidecars.

Yesterday the news broke that global giant Zurich Insurance Group has made a number of proposals to acquire London headquartered specialty insurance and reinsurance company Beazley and it’s worth considering what this could mean for cyber, ILS and the use of third-party capital by these firms.