Alturas Re Ltd

Insurance-linked securities (ILS) investors and third-party capital providers are “disciplined participants” in the global insurance and reinsurance market, according to AXIS Capital CEO Albert Benchimol.

Bermuda headquartered insurance and reinsurance firm AXIS Capital Holdings Limited has lifted the amount of third-party capital assets under its management to a new high at $2.1 billion.

Axis Re, the reinsurance arm of global re/insurer AXIS Capital Holdings Limited, has hired Jason Busti from Swiss Re and appointed him as its new President, North America.

AXIS Capital, the global specialist re/insurer headquartered in Bermuda, has added another tranche of notes to its collateralised reinsurance sidecar vehicle Alturas Re Ltd., sponsoring a $39 million issuance, the third from the sidecar for 2019, we can reveal.

AXIS Capital, the Bermuda-headquartered global re/insurer, has increased the size of its new Alturas Re Ltd. collateralised re/insurance sidecar to $130 million for 2019, with the issuance of a second tranche of notes which we understand to be reinsurance focused.

Alturas Re Ltd., a new fully collateralised reinsurance sidecar vehicle, has been launched and successfully capitalised to the tune of $55 million, which will benefit the sponsor of the vehicle re/insurer AXIS Capital.