Mt. Logan grows total AUM to $3.4bn, helped by Everest’s Annapurna sidecar

Mt. Logan Capital Management, Ltd. (MLCM), the Everest Group owned third-party capital management platform, has expanded its assets under management meaningfully over recent months, reaching $3.4 billion in AUM, helped by parent Everest’s launch of what was the largest casualty reinsurance sidecar to be launched in the market.

The last data point we had for the assets under management and assets serviced of Mt. Logan Capital Management was $2.6 billion as of April 2026, in our insurance-linked securities investment managers directory.

However, the figure was just $1.8 billion at the beginning of 2025, since when the Mt. Logan Capital Management business has expanded strongly for Everest (around 89% capital growth), attracting new investor inflows to its strategies.

Since that April AUM figure, Everest launched Annapurna Re Ltd., which is the specialty re/insurers first casualty reinsurance sidecar.

$600 million of third-party capital is being deployed through the Annapurna Re sidecar structure, at the time making it the largest casualty sidecar vehicle in the market, with Stone Point Insurance Solutions the anchor investor backing the venture.

The Mt. Logan Capital Management team services those assets, alongside those in the more typical Mt. Logan collateralized reinsurance and ILS strategies.

So, Annapurna Re is responsible for a significant amount of Mt. Logan’s AUM growth since April, but it appears the investment manager has also attracted a further $200 million in third-party capital before June 30th, when the new $3.4 billion AUM figure is valid for.

Commenting on how it optimises the company balance-sheet in its quarterly reporting last night, Everest said it has been, “Growing our Mt. Logan Capital Management platform with the launch of the market’s largest casualty and specialty sidecar, Annapurna Re.”

On the casualty sidecar, Everest noted that it, “Provides additional capital flexibility and is expected to be modestly accretive to underwriting income and ROE over time.”

On a quarterly basis, Everest expects to cede around $200 million of premiums to the Annapurna Re sidecar structure, the company said.

Which will generate, “additional underwriting and fee income, offset by lower investment income,” over time for the company.

The capital flexibility the new casualty sidecar offers is key, with Everest saying Annapurna Re is an “alternative tool for capital management to facilitate opportunistic scale and generate fee income,” while it also provides a tool that enhances its ability to optimise its hedging.

Everest also noted that the Annapurna Re casualty reinsurance sidecar enhances its distribution relationships, while also providing access to a differentiated pool of capital.

That differentiated pool of capital under the sidecar will now be serviced by Mt. Logan Capital Management, it seems, helping to boost its assets managed.

Everest further stated that Mt. Logan Capital Management is an “efficient third-party capital manager,” that is “highly aligned” with its underwriting results.

The importance of Mt. Logan Capital Management is clear, this being the first quarter in quite a while that there has been any mention of the third-party reinsurance capital and ILS business unit in Everest’s quarterly reporting.

The launch of Annapurna Re makes Mt. Logan Capital Management even more strategically important for its parent, with now more in assets under management and a broadening of the third-party investor base.

Looking at the information contained in our Insurance-Linked Securities Investment Managers & Funds Directory, managers with more than $2 billion in assets, which number 23 currently, now manage an impressive almost $121 billion of capital combined, invested across catastrophe bonds, other ILS and reinsurance-linked investments.

View information on dedicated ILS fund managers, as well as reinsurers offering ILS style investment opportunities, in our Insurance-Linked Securities Investment Managers & Funds Directory.