Quota Share

Cayman headquartered reinsurance company Oxbridge Re has reported that the firm’s first series of tokenized reinsurance sidecar securities have now realised a 49% return for the investors backing them, surpassing both initial and updated expectations.

Oxbridge Re Ltd., the Cayman Islands based reinsurance company, has announced today that it is considering “strategic alternatives” for the business, including a potential sale or merger, various capital actions, or even spinning out its tokenized reinsurance investments unit.

Executives from global reinsurance firm Hannover Re said today that there is no sign of new capital in the reinsurance market aside from through the catastrophe bond sector and some unlocked trapped collateral, and also discussed the Baltimore Bridge collapse saying that retrocession recoveries are anticipated.

New York based alternative risk premia focused investment manager Stone Ridge has now grown its mutual insurance-linked securities (ILS) fund strategy assets under management (AUM) back to above $4 billion for the first time since 2020.

According to Jay Madhu, the Chairman and Chief Executive Officer of Cayman headquartered reinsurer Oxbridge Re, the firm’s first series of tokenized reinsurance sidecar securities are set to deliver investors a 45% return, surpassing the initial expectation of 42%.

Oxbridge Re Ltd., the Cayman Islands based reinsurance company, has launched its second reinsurance sidecar fundraising effort through the sale of up to $10 million of EpsilonCat Re tokenized reinsurance securities issued by its subsidiary SurancePlus Inc.

Phoenix Merchant Partners, LP, a middle-market focused investment firm, has announced the closing of its debut transaction, that finances a non-catastrophe P&C reinsurance company named Gryphon Holdings, while also announcing the hire of Julia Henderson as Managing Director, Insurance Solutions.

Home insurtech Hippo has completed its reinsurance program renewal for 2024, expanding its excess-of-loss reinsurance protection, while dialling back its proportional cover through quota shares to retain more risk.

Re/insurer MS Amlin has again returned to the capital markets to source catastrophe retrocession through a renewed quota share arrangement via reinsurance sidecar vehicle Phoenix 2 Re Pte. Ltd., lifting the coverage available to the company from the sidecar program to almost $87.5 million in the process.

Having significantly increased the size of its catastrophe excess-of-loss reinsurance treaty for 2024, US insurer Travelers is pleased with the extra protection and expects the additional cost will be covered by inward price increases, according to its CFO Dan Frey.