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Oxbridge Re’s sidecar investors earn 17% return

According to CEO Jay Madhu, investors in the collateralized reinsurance sidecar vehicle of Oxbridge Re Ltd., the Cayman Islands based reinsurance firm, earned a 17% return for the year to end of May 2021. Oxbridge Re's reinsurance sidecar is still very small, at only $216,000 of capital, but it delivered impressive read the full article →

Stone Ridge’s cat bond focused mutual ILS fund continues to grow

The steady growth of Stone Ridge Asset Management's more catastrophe bond focused mutual insurance-linked securities (ILS) fund has continued in the last quarter of record, while at the same time the investment manager's interval ILS fund strategy shrank further as it realised more losses and return of capital. Overall, in the read the full article →

Mutual ILS funds take Ida hit. Stone Ridge interval fund falls ~5%

The main mutual insurance-linked securities (ILS) and reinsurance linked mutual investment funds have experienced some declines in the wake of the recent landfall of major hurricane Ida. Hurricane Ida made landfall on August 29th in Louisiana with major 150 mph winds. The storm devastated regions of the coast, impacted New Orleans read the full article →

Sidecar capacity – demand outpacing supply: Shiv Kumar, GC Securities

Demand for alternative reinsurance capacity to support sidecars and quota share structures is outpacing supply, according to Shiv Kumar who explained that the reinsurance sidecar market has grown despite facing challenges in recent years. According to GC Securities numbers the private collateralized quota share and reinsurance sidecar market now makes up read the full article →

Zurich’s higher cessions to reinsurance continue, 10% up in H1 2021

Global insurance and reinsurance giant Zurich has continued to receive strong support from its reinsurance and retrocessional capital partners in the first-half of 2021, ceding 10% more in premiums to them than the prior year period. That continues the trend from 2020, when, as we reported Zurich ceded US $8.6 billion read the full article →

Lemonade adds US cat reinsurance treaty, as it dials back quota share

Lemonade, Inc., perhaps the highest profile insurtech company so far, has been the subject of a lot of discussion over its quota share reinsurance arrangements in recent quarters. Analysts and observers have clashed over Lemonade's use of reinsurance, with some saying that the insurtech's approach of using a significant amount of read the full article →

TransRe’s property reinsurance underwriting result improves in Q2

TransRe, the reinsurance underwriting brand of the Alleghany Corporation, has reported a much improved quarter for its property reinsurance business, as a more benign catastrophe claims environment helped to drive a profitable period. TransRe's property reinsurance division fell to a loss in the first-quarter of 2021, as losses from winter storm read the full article →

MS Amlin sees Phoenix 1 Re sidecar as core to Asia strategy: ILS Asia 2021

Re/insurer MS Amlin intends to renew its novel Phoenix 1 Re reinsurance sidecar and expects the vehicle to become an important component of its strategy in the Asia region, according to William Ho, Chief Executive Officer (CEO) of MS Amlin Asia Pacific, and Head of Reinsurance for Asia, MS Amlin. The read the full article →

Stone Ridge’s mutual ILS funds shrink 11% to $3.4bn, interval shrinks 21%

Insurance-linked securities (ILS) assets under management across the two main mutual ILS funds operated by Stone Ridge Asset Management shrank by approximately 11% during the last quarter of record to $3.4 billion. Stone Ridge's interval ILS fund strategy, which allocates to reinsurance sidecars and private ILS quota shares in the main, read the full article →

ILS fund manager participation moving up the reinsurance tower

In our discussions with managers of insurance-linked securities (ILS) funds and other collateralized reinsurance structures around the mid-year renewal season, one fact that has become increasingly clear is that many ILS fund managers are taking the opportunity supplied by the improved rate environment to move higher up the risk tower. One read the full article →