Atlas Gotland Worldwide Catastrophe Sidecar

For global reinsurance company SCOR, 2022 saw the company adding new quota share sidecar capacity from third-party investors to its retrocession program, as it looked to add more diversification to its retro capital sources, while strengthening its retro protection.

France headquartered globally active reinsurance firm SCOR has increased its third-party capital support in the first-quarter of 2022, taking the capital managed under its collateralised reinsurance sidecar platform to US $400 million.

France-headquartered global reinsurance firm SCOR has reduced its natural catastrophe exposure at the January renewals and managed a challenging retrocession market through the use of third-party capital and upsizing its sidecar capacity to US $300 million.

Alecta, which is the largest pension fund in Sweden, intends to take a long-term view on the insurance-linked securities (ILS) sector and according to a report is planning to make further investments into reinsurance related risks through ILS strategies.

Swedish pension fund Alecta has allocated US $200 million to invest in reinsurance firm SCOR’s new sidecar structure, a Atlas Gotland Worldwide Catastrophe Sidecar which is part of newly formed SPI Atlas Re Limited.