Reinsurance sidecars

Articles & news about 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.


Argo’s use of third-party capital continues to rise

Bermuda headquartered international specialty insurance and reinsurance firm Argo Group has continued to expand its use of third-party capital during the second-quarter of 2019.Argo has been steadily ramping up its use of third-party capital ever since it acquired Ariel Re, resulting in a situation where the company now experiences significant read the full article →

Oxbridge Re’s 2019 reinsurance sidecar renewal was only $600k

The size of Cayman Islands based reinsurance firm Oxbridge Re Ltd's latest collateralized sidecar issuance has now been revealed, with the firm reporting that its Oxbridge Re NS Ltd. vehicle issued $600,000 of notes at the June 2019 renewals.We'd already reported that Oxbridge Re had successfully renewed its collateralized reinsurance read the full article →

Third-party capital alignment critical, says Brit CFO, as fee income rises

Alignment between insurance and reinsurance company sponsors of third-party capital vehicles with their investor partners is critical, according to Brit's CFO, as the company revealed a more than trebled its underwriting fee income from such activities in the first-half of the year.Specialty insurance and reinsurance firm Brit Ltd. took its read the full article →

AXIS Re hires Busti as President NA, names Romeo Head of Property Bermuda

Axis Re, the reinsurance arm of global re/insurer AXIS Capital Holdings Limited, has hired Jason Busti from Swiss Re and appointed him as its new President, North America.Busti fills a hole left in the AXIS Re leadership team in the United States, after Jon Colello left the firm to move read the full article →

AXA XL revenues rise 9%, with integration “progressing well” – CEO

The integration of Bermuda headquartered insurance, reinsurance and alternative capital management specialist XL into the AXA group of companies is "progressing well" according to AXA's CEO, with a strong half-year of revenues a sign of what may be to come.AXA has reported that revenues at its now combined AXA XL read the full article →

Jubilee oil field FPSO business interruption loss creep slows

The insurance and ultimately reinsurance market caused by damage to and the resulting production shutdown of the Kwame Nkrumah FPSO (floating production, storage and offloading) vessel operating on the Jubilee oil field, Ghana, looks closer to settling as the loss creep from business interruption has slowed down.The Kwame Nkrumah floating read the full article →

RenaissanceRe further extends maturity of Fibonacci Re ILS notes

Bermudian reinsurance firm and third-party capital manager RenaissanceRe has opted for another extension of maturity for the remaining insurance-linked securities (ILS) notes from its Fibonacci Re Ltd. vehicle’s 2017 and 2018 issuances.The catastrophe bond like structure has seen its maturity dates extended repeatedly, presumably to allow for the collateral to read the full article →

New PFIC regs released, relevant to ILS & hedge fund reinsurance strategies

The U.S. Internal Revenue Service and Department of the Treasury has published a new set of proposed regulations relating to passive foreign investment companies (PFICs), which are relevant to many in insurance and reinsurance, but have particular relevance to certain ILS and hedge fund reinsurer strategies it seems.The updates to read the full article →

Carey Olsen promotes ILS specialist Gavin Woods to Partner in Bermuda

Law firm Carey Olsen Bermuda has promoted insurance-linked securities (ILS) specialist lawyer Gavin Woods to Partner at the firm.Gavin Woods, a lawyer with considerable experience in the ILS, catastrophe bond and collateralized reinsurance space joined Carey Olsen Bermuda in 2018.Prior to the firm, Woods had spent eight years focused on read the full article →

Stone Ridge ILS assets shrink another -4% to $5.93bn

Stone Ridge Asset Management's insurance and reinsurance linked assets under management shrank by another -4% in the latest quarter of record, finishing the period at $5.93 billion by the end of April as the manager continued to realise losses from catastrophes and redemptions.It's the first time the manager's two flagship read the full article →