Ark Insurance Holdings Limited, a property and casualty insurance and reinsurance subsidiary of the White Mountains Insurance Group, Ltd., has renewed its collateralized reinsurance sidecar Outrigger Re Ltd. for the 2026 calendar year at a meaningfully smaller $70 million in size.
In an announcement White Mountains said that the reduced size of the Outrigger Re sidecar for 2026 was due to an increase in Ark’s use of traditional quota share reinsurance.
Back in 2023, White Mountains became the the lead investor in the first vintage of subsidiary Ark Insurance Holdings’ $250 million collateralized reinsurance sidecar Outrigger Re Ltd.
The Outrigger Re sidecar was then renewed for 2024, at a similar size, but was reduced slightly to $230 million for the 2025 underwriting year, with White Mountains itself providing $150 million of that capitalisation.
Now, for 2026, the Outrigger Re collateralized reinsurance sidecar is renewed at just $70 million in size, as Ark adopts a new strategy of using more traditional quota share capacity.
Outrigger Re Ltd.has renewed at $70 million for business incepted during calendar year 2026 on similar terms as were in effect for calendar year 2025, White Mountains said.
Outrigger Re has entered into a quota share with Ark to provide collateralized reinsurance protection covering a portion of the Ark Bermuda portfolio of global property catastrophe risks.
For 2026, the entire $70 million of total investor capital backing Outrigger Re comes from third-party investors.
As a result, it does not seem White Mountains invested this year, so going forwards we may not have as much visibility into this sidecar as when White Mountains had reported each quarter on the performance of the Outrigger investments it had made in previous years.
When we reported after Q3 2025, White Mountains said its investment into the Outrigger Re collateralized reinsurance sidecar had generated pre-tax income of $40 million from the 2025 underwriting year, up on the previous year.
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