Reinsurance sidecars news

Articles & news about collateralised reinsurance sidecars. Typically fully-collateralized, a reinsurance sidecar is a vehicle which an insurer or reinsurer can segregate a portfolio of risk into, often via a reinsurance quota-share, and allow investors to collateralize it in order to access the reinsurance businesses return.

Reinsurance sidecars are a popular way for investors to access the return of a specific reinsurer or a specific portfolio of risk.


TransRe falls to property reinsurance underwriting loss in Q1

TransRe, the reinsurance underwriting brand of the Alleghany Corporation, saw its property reinsurance business fall to an underwriting loss in the first-quarter of the year, as elevated catastrophe claims dented performance. At the same time, TransRe has taken advantage of reinsurance market conditions to significantly expand its property reinsurance portfolio, underwriting read the full article →

ILS capital recovery continued in Q4 2020, rising $2bn to hit $94bn: Aon

Alternative reinsurance capital levels, largely from insurance-linked securities (ILS), continued to rebound in the fourth-quarter of 2020, adding $2 billion to end the year at $94 billion, according to the latest data from broker Aon. When Aon last reported on global reinsurance capital levels, the broker's analysis showed that alternative capital, read the full article →

Amundi Pioneer ILS Interval Fund adds 7% to net assets

Amundi US Investment Management’s dedicated insurance-linked securities (ILS) mutual investment fund grew its net assets by another 7% in the last quarter of record, reaching $937 million at the end of January 2021. That's not quite back at the just under $1 billion high of total net assets that the Pioneer read the full article →

Sapnar joins Stone Ridge’s NYDIG to lead bitcoin services for insurance

Mike Sapnar, the former CEO of global reinsurance firm TransRe has now surfaced as Global Head of Insurance Solutions for the Stone Ridge owned NYDIG, tasked with leading the firms creation of bitcoin-powered products and services for the global re/insurance industry. We wrote back in March that Sapnar was said to read the full article →

Cincinnati challenges winter storm claims under ERCOT policy

While widespread subrogation related to winter storm claims payments against Texas energy organisation the Electric Reliability Council of Texas, Inc. (ERCOT) hasn't emerged and in some quarters is thought unlikely, one insurer is seeking to hold ERCOT accountable for some of its costs from the freeze event in the State. The read the full article →

PGGM ILS mandate scope for Nephila, PartnerRe & Swiss Re upsized

PGGM, the Dutch pension fund administrator and investment manager and the largest single source of assets in the insurance-linked securities (ILS) market, has significantly increased its mandated allocation allowances for some of its leading invetsment partners in the ILS and reinsurance sector. With, we understand, roughly US $7.5 billion of investments read the full article →

Private & bilateral sidecar ILS deals on the rise: Willis Re

The growth of direct quota share transactions between institutional investors and global insurance or reinsurance companies are on the rise, according to broker Willis Re. The reinsurance broker believes that 2021 is seeing a resurgence of the private or bilateral reinsurance sidecar arrangement and that this is enabling some large institutional read the full article →

Stone Ridge’s mutual ILS funds steady, liquidation of positions evident

Stone Ridge Asset Management’s mutual insurance-linked securities (ILS) fund assets were relatively steady during the last quarter of record, but growth in short-term, more liquid assets held in the Interval structure suggest a liquidation of some private sidecar and quota share reinsurance positions, possibly to service further redemptions. Overall, mutual ILS read the full article →

Reinsurance to offer insurer respite after winter storm Uri loss: S&P

Reinsurance recoveries are set to offer some respite to insurance carriers exposed to winter storm Uri and the deep freeze event that impacted the south, in particular Texas, according to S&P Global Ratings. S&P explained that, across its coverage universe, "The ratings impact from Uri is neutral for the North American read the full article →

TransRe’s outgoing CEO Sapnar said heading to Stone Ridge

Mike Sapnar, the outgoing CEO of global reinsurance group TransRe, is heading for a new role at Stone Ridge Asset Management, the New York based asset manager with a focus on alternative risk premia strategies, according to sources and reports. First reported by two publishers overnight and now discussed by our read the full article →