Aspen Capital Markets news

Global insurance and reinsurance company Aspen  will look to increase the third-party capital under management at its Aspen Capital Markets unit and increase the range of products available to investors in 2015, according to CEO Chris O’Kane.

Global insurance and reinsurance firm Aspen’s collateralized reinsurance sidecar vehicle Silverton Re has increased the value of its long-term debt, which was issued to third-party investors, to $64.5m which is up 15% in the third-quarter.

Chris O’Kane, CEO of global insurance and reinsurance firm Aspen, said that the company’s alternative capital management and insurance-linked securities (ILS) unit Aspen Capital Markets is a growth area and its third-party reinsurance capital has risen to $135m.

Global insurance and reinsurance firm Aspen’s collateralized reinsurance sidecar Silverton Re looks to have achieved 12% performance in the first six months of 2014, according to the firms quarterly results published yesterday.

Global insurance and reinsurance firm Aspen continued to grow the assets under management at its alternative capital management and insurance-linked securities (ILS) focused unit Aspen Capital Markets during the first-quarter.

Global insurance and reinsurance firm Aspen now manages $100m of assets within third-party reinsurance capital vehicles at its alternative capital management and insurance-linked securities (ILS) focused unit Aspen Capital Markets.

Aspen Capital Markets, the third-party capital and insurance-linked securities (ILS) focused division of Aspen Re, has launched its first vehicle today, Silverton Re, through which it will give investors access to the returns of its catastrophe reinsurance business.

Justin Hull has, we understand, left Bermudian reinsurer PartnerRe and followed Brian Tobben to join the newly established, third-party capital and insurance-linked securities (ILS) focused division of Aspen Re, Aspen Capital Markets.

Cartesian Re, a New York and Bermuda based reinsurance-linked asset management firm formerly known as Cartesian Iris, is to part ways with its ILS venture partner, Aspen Insurance Holdings. Cartesian Re will continue its industry-loss warranty (ILW) focused asset management strategy while Aspen will focus on its own capital markets unit.

One of the issues facing reinsurers that launch dedicated insurance-linked securities and capital markets focused reinsurance divisions is how to raise capital without a track record in reinsurance-linked investments. One way of doing this is to reallocate risks underwritten by the traditional side of the business into the third-party capital management division.