Bermudian specialist collateralized reinsurance and insurance-linked securities (ILS) start-up Sequant Re is set to take another injection of cash from its largest backer Premier Diversified Holdings Inc. (PDH), as Premier aims to increase its stake.
Premier Diversified Holdings Inc. said that it intends to acquire up to another $300,000 worth of the common shares of Sequant Re Holdings Limited (“SRHL”), the parent company of Bermuda registered reinsurance firm Sequant Reinsurance Company Limited.
Premier already holds approximately 35.08% of the issued and outstanding common shares of SRHL, 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.
Sequant Re underwrites fully collateralized reinsurance transactions, through the issuance of insurance-linked securities backed by third-party investor capital. It aims to make it simpler for new investors to access the ILS private and collateralised reinsurance sector, and also offers experienced ILS investors the means to access new portfolios of reinsurance risk, which it has selected, underwritten and created, either on a shared or sole basis.
Sequant Re 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.
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