Collateralized reinsurance start-up underwriter and investments firm Sequant Re has received another $200k investment from holding company Premier Diversified Holdings Inc. (PDH), which should provide Sequant with further runway as it continues to prepare to enter the market.
Sequant Re launched originally in late 2014 and since then has built a small team of reinsurance and investment specialists, as it plans to launch an offering where it leverages its underwriting expertise and access to risk to provide collateralized reinsurance investments to clients.
Sequant, which is led by Guy Cloutier, has yet to enter the ILS market, but has taken a number of investments from Premier Diversified Holdings providing it with working capital as it raises capital, develops its models and hones underwriting processes for launch.
Premier Diversified Holdings said yesterday that it intends to buy up to a further $200,000 shares in Sequant at a price of $0.50 per share.
Premier currently holds around 43.65% (undiluted) of the issued and outstanding common shares of Sequant Re Holdings Limited.
Sequant aims to lower barriers to accessing risk, providing an efficient means for investors to access the returns of a diverse range of reinsurance risks. It has taken time for the company to ready itself to enter the market, reflecting the fact that barriers to entry are still evident in ILS and collateralized reinsurance and getting started is not always a quick process.