Arundo Re launches eighth 157 Re sidecar vintage for 2026, new investors in support

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.

157 Re is now a long-standing collateralised and securitised reinsurance sidecar structure from a European sponsor.

Arundo Re, previously named CCR Re but rebranded last year, utilises the 157 Re reinsurance sidecar vehicle to align itself with third-party investors and benefit from their appetite to share in its underwriting returns.

Now in its eighth year, the company has sponsored a 157 Re reinsurance sidecar annually since 2019.

Arundo Re explained that it has successfully launched the 157 Re 26 compartment of the sidecar structure, marking the eighth vintage from the vehicle.

The company said, “This launch underscores the reinsurer’s stated commitment to strengthening and sustaining its relationship of trust with its third-party investors.”

Adding that, “In line with its strategy of diversifying its sources of capital, thanks to this compartmentalized mutual securitization fund, Arundo Re relies on the structure and operation of its 157 Re platform, built on 7 years of improvements and track record.”

Last year, the company had announced an improvement had been made to a mechanism that allows for more efficient reuse of capital to facilitate future renewals, optimising the structure to make the collateralised capacity and retrocessional protection it provides even more efficient and useful.

157 Re was the first and remains the only insurance-linked securities (ILS) vehicle to be governed under French law, being structured as a mutual securitization fund, known as a “fonds commun de titrisation”, a vehicle often used for securitisation arrangements in France.

The size of the 157 Re sidecar issuances have never been disclosed, but it is known to have become a key retrocession and partnership capital structure for its sponsor Arundo Re.

Details of every 157 Re sidecar issuance can be found in our directory of reinsurance sidecar transactions.

For underwriting year 2026, the 157 Re 26 reinsurance sidecar arrangement is once again supported by long-standing investor partner Boussard & Gavaudan Investment Management LLP (BGIM), with that firm having now backed all eight of Arundo Re’s sidecar vintages.

Arundo Re said the 157 Re 2026 sidecar vintage secured the support of additional new investors.

One of those is reported to be Mutuelle Centrale de Réassurance, a mutual reinsurer and member of the Monceau Assurances group.

Arundo Re explained, “The confidence of MCR is a mark of recognition of the quality of Arundo Re’s underwriting teams and this new partnership strengthens Arundo Re’s willingness to rely on its 157 Re platform as part of its development.”

As with all recent 157 Re sidecar issuances, Gallagher Securities acted as a structuring and placement agent for the 157 Re renewal for 2026.

For the first time though, GC Securities, the capital markets and insurance-linked securities focused division of Guy Carpenter is also named as a placement agent for the sidecar renewal, suggesting Arundo Re may have been seeking to access an even broader investor pool this year.

France Titrisation has acted as the management company, BNP Paribas Securities as the custodian bank and legal advice was provided by Linklaters, all having acted before for 157 Re sidecar renewals.

Commenting on the latest 157 Re sidecar renewal, Mathieu Halm, Board Secretary and Chief Retrocession & Alternative Capital Officer of Arundo Re, stated, “157 Re is a great opportunity for our investors to support Arundo Re in its development. This eighth issuance testifies to a shared ambition to build a quality partnership.”

Speaking with Artemis, Halm further explained why this year’s renewal of the sidecar vehicle has been pleasing.

He told us, “First, we have been able to demonstrate the resiliency of 157 Re 25 thanks to its limited exposure to the US, proving the diversifying aspects of this product in the sidecar market.

“Second, it is fair to say we have seen a lot of interest from investors to participate in this new vintage.”

Arundo Re does not disclose the size of its 157 Re reinsurance sidecar, but it is known to have expanded over time.

With the addition of new investors this year and the vehicle having demonstrated to investors the benefits of investing into its limited US risk exposed portfolio, we suspect the 157 Re sidecar may well have launched for 2026 at a larger size than it was a year ago.

For details of many reinsurance sidecar investments and transactions over the history of the ILS market, view our comprehensive list of collateralized reinsurance sidecars transactions.