Swiss Re Insurance-Linked Fund Management

PCS - Emerging Risks, New Opportunities

PartnerRe gets Olympus investment for retro & specialty vehicle Laplace-C


Bermuda headquartered reinsurance company PartnerRe has set up a new retrocession and specialty reinsurance focused investment vehicle named Laplace-C and secured backing from private equity player Olympus Partners.

PartnerRe logoLaplace-C has been established to take advantage of opportunities seen in the global reinsurance market at this time and we understand is just one of the initiatives PartnerRe has been involved in around the start of the year, that have either brought new capital to market or put to work capital the reinsurer had already secured.

The structure, which details are lacking on, will have a particular focus on generating returns from the favorable market conditions seen across a range of short-tail specialty and retrocessional reinsurance lines of business.

It’s possible that Laplace-C may represent a segregated cell or account within another PartnerRe reinsurance investment structure, such as the Lorenz Re quota share and sidecar like vehicle, but we cannot be certain at this time.

It seems most likely that this should be considered a sidecar transaction, hence we’ve listed it with other sidecar transactions in our directory.

PartnerRe has secured backing from private equity firm Olympus Partners for Laplace-C, an investment manager with a long-term focus and over $8.5 billion under management and largely sourced from corporate pension funds, endowment funds and state-sponsored retirement programs.

Olympus Partners revealed its investment in Laplace-C, calling the opportunity “a retrocession and specialty reinsurance vehicle managed by PartnerRe.”

“We have been actively looking at opportunities to invest in the current favorable reinsurance cycle and believe the newly created Laplace-C vehicle represents a differentiated value proposition combining superior risk-adjusted returns with established market access to a broadly diversified book of business,” explained Olympus Partners Matt Boyd.

“We are excited to partner with PartnerRe, one of the leading reinsurers in the world with a long history of exceptional underwriting returns.”

PartnerRe has expanded its reinsurance investment partnerships in recent years, most notably with Dutch pension investor PGGM through the Huygens structure.

PartnerRe had also secured €750 million of commitments from French insurance group Covéa last year, which was due to be injected into special purpose reinsurance vehicles managed by the Bermuda based reinsurance firm.

With these initiatives and now this Laplace-C structure, PartnerRe is working with investors to enhance its own capacity and will also be earning fee income in return.

Artemis Live - ILS and reinsurance video interviews and podcastView all of our Artemis Live video interviews and subscribe to our podcast.

All of our Artemis Live insurance-linked securities (ILS), catastrophe bonds and reinsurance video content and video interviews can be accessed online.

Our Artemis Live podcast can be subscribed to using the typical podcast services providers, including Apple, Google, Spotify and more.

Print Friendly, PDF & Email

Artemis Newsletters and Email Alerts

Receive a regular weekly email newsletter update containing all the top news stories, deals and event information

  • This field is for validation purposes and should be left unchanged.

Receive alert notifications by email for every article from Artemis as it gets published.