Sequant Re, the start-up Bermudian collateralized reinsurance and insurance-linked securities (ILS) firm, has taken another US$300,000 investment from its lead backer Premier Diversified Holdings Inc. (PDH), taking its stake to almost 42%.
Premier Diversified Holdings has been repeatedly investing in Sequant Re, providing capital to give the start-up sufficient runway while growing its stake in the firm.
On October 28th Premier acquired another 600,000 common shares of Sequant Re Holdings Limited, for US$0.50 per common share, so a total investment of US$300,000.
That takes Premier’s stake in Sequant Re to 4,726,000 common shares, which is around 41.81% of the firm’s share capital on an undiluted basis, all of which is held through Premier’s subsidiary Premier Diversified Holdings (Bermuda) Ltd.
Sequant Re is an independent specialist underwriter of fully collateralised reinsurance transactions, capitalising them through the issuance of insurance-linked securities to third-party investors.
Sequant’s goal is to make it simpler for new investors to access the ILS private deal and collateralised reinsurance space, and is gearing up to provide investors with access to new portfolios of reinsurance risk, which it has selected, underwritten and created, either on a shared or sole basis.
Sequant Re also recently partnered with independent Zurich based insurance-linked securities (ILS) and catastrophe bond fund manager Plenum Investments Ltd. to launch a new high-yielding ILS fund offering, focused on private ILS and collateralised reinsurance.