Swiss Re Insurance-Linked Fund Management

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Sequant Re receives new investment from Premier Diversified Holdings


Bermudian specialist collateralized reinsurance and insurance-linked securities (ILS) investments firm Sequant Re has received a new investment in its holding company, Sequant Re Holdings Limited, from its largest backer Premier Diversified Holdings Inc. (PDH).

Premier Diversified Holdings Inc. (PDH) acquired 200,000 common shares of Sequant Re Holdings Limited on the 27th May 2016, at USD$2 per share amounting to a further investment of USD$400,000 (approximately CAD$521,000).

Premier, which has been backing Guy Cloutier’s Sequant Re since the start has now increased its holding in the company to 3,526,000 shares, or around 35.08% of the company on an undiluted basis, with 3,326,000 held directly, or 33.76% on an undiluted basis.

“As a primary shareholder behind SRHL, Premier continues to support this boutique reinsurance company as it continues to build out its book of business, reputation and its unique offering in the insurance-linked securities market under Guy Cloutier,” commented Premier CEO and SRHL director, Sanjeev Parsad. “We believe SRHL will begin to generate fee income in 2016 and offset our future funding requirements. As such, these shares are being purchased by our new subsidiary in Bermuda, so that any income is retained in Bermuda.”

Premier Diversified Holdings has established a wholly-owned Bermuda subsidiary, Premier Diversified Holdings (Bermuda) Ltd., which it has used for this latest investment into Sequant Re. The shares were acquired with cash, by way of a loan between Premier and Premier Bermuda.

Sequant Re underwrites fully collateralized reinsurance transactions, through the issuance of insurance-linked securities backed by third-party investor capital. It hopes to make new investors entry to the ILS sector easier and to offer experienced ILS investors to access new portfolios of reinsurance risk, which it has selected, underwritten and created, either on a shared or sole basis.

Also read:

Plenum & Sequant partner on new collateralized reinsurance ILS Fund.

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