Arch Capital’s Voussoir Re sidecar issues and lists 2026-3 preferred shares

Arch Capital, the Bermuda headquartered insurance and reinsurance specialist, is refreshing one of its third-party capital structures again this year, as the Voussoir Re Ltd. collateralized reinsurance sidecar and special purpose insurance (SPI) vehicle has issued new preferred shares for the second year running.

It’s a very similar issuance to one year ago, with a single tranche of 1,000 preferred shares issued and privately placed with qualified investors.

We understand the preferred shares have become the preferred way for Arch Capital to enable investors to access reinsurance-linked returns through its Voussoir Re sidecar structure.

The Voussoir Re sidecar vehicle became a key third-party capital structure for Arch since the structures launch in 2019.

Voussoir Re enables Arch Capital to work with third-party investors as risk capital partners, ensuring alignment within its business.

Arch Capital set up and launched Voussoir Re Ltd. in Bermuda in 2019. The special purpose insurer (SPI) and segregated accounts vehicle has since been used as a quota share sidecar, as well as for collateralized reinsurance arrangements and the issuance of insurance-linked notes to investors.

We do understand that the role Voussoir Re plays for Arch has evolved over time, from a straight quota share reinsurance sidecar platform, to more of a conduit between investors and risk in a number of formats, including as a way to more easily connect risk opportunities to fund strategies.

In 2019, we reported on the first $74 million issuance of notes from Voussoir Re Ltd., which was a quota share based reinsurance sidecar style arrangement for Arch Capital.

In 2020, Arch returned with a second, $76.5 million issuance from its Voussoir Re sidecar vehicle. This featured a $20 million Class A tranche of Series 2020-1 notes, as well as a $56.5 million Class B tranche, again a sidecar like quota share reinsurance arrangement.

Then, in March 2021, Arch sponsored a third transaction, which represented a nearly $70 million renewal for the Voussoir Re sidecar structure.

Later on that year, we also reported on the first preferred shares issuance to come to light from Voussoir Re, with the previous issuances having featured participating notes.

Fast-forward to March 2022, Arch Capital used Voussoir Re once again, with two more series of preferred shares issued, and then later on in the year, the company made a third issuance of shares. 

In October 2024, Voussoir Re issued and listed a series of 2024-9 preferred shares on the Bermuda Stock Exchange (BSX).

Then, most recently and roughly one year ago, we reported in March 2025 that Voussoir Re had issued a series of 2025-3 preferred shares which had been sold to investors.

The Voussoir Re sidecar SPI has now issued another series of preferred shares, which will be used as investment instruments to enable third-party capital providers to allocate to certain reinsurance business.

In this latest arrangement, Voussoir Re Ltd. has issued 1,000 Series 2026-3 non-voting and redeemable preferred shares, using a segregated account Voussoir Re 2026-3, with each of the shares having a nominal par value of $0.01.

The 1,000 Series 2026-3 preferred shares have been listed on the Bermuda Stock Exchange (BSX), with Artex Corporate Services (Bermuda) Ltd. acting as the listing sponsor.

The 1,000 Series 2026-3 preferred shares issued by Voussoir Re Ltd. have been privately placed with qualified investors.

Find details of numerous reinsurance sidecar investments and transactions in our directory of collateralized reinsurance sidecars transactions.