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.

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Oxbridge Re’s sidecar on track to deliver ~40% returns to investors

Investors in Oxbridge Re NS Ltd., the fully collateralized reinsurance sidecar vehicle sponsored by Cayman Islands based reinsurance firm Oxbridge Re Ltd., are currently on track to earn a very healthy roughly 40% return for the current underwriting year.As we explained towards the end of 2019, the Oxbridge Re NS read the full article →

Sidecars in need of significant innovation & change: Mayer Brown’s Spitzer

The collateralised reinsurance sidecar leaves a lot to be desired, speakers at a conference discussed recently, with the structure singled out as being cumbersome and inefficient, leading to an opportunity for anyone wanting to innovate and work to improve them.Speaking at the SIFMA Insurance and Risk Linked Securities conference in read the full article →

PGGM adds private quota share with Swiss Re through Viaduct Re Ltd.

PGGM, the Dutch pension fund administrator and investment manager that has become the largest single source of assets in the insurance-linked securities (ILS) market, added a private quota share arrangement with reinsurance giant Swiss Re in 2019, using a special purpose insurer (SPI) named Viaduct Re Ltd.Last month we reported read the full article →

Arch Capital sponsors $76.5m Voussoir Re 2020-1 sidecar SPI issuance

Arch Capital Group, the Bermuda headquartered insurance and reinsurance specialist, has sponsored a new $76.5 million sidecar issuance through the special purpose insurer Voussoir Re Ltd., we understand.Almost a year ago we reported on a first $74 million issuance of notes by Voussoir Re Ltd., a collateralised reinsurance sidecar style read the full article →

Argo increases use of third-party capital again in 2019

Use of third-party capital has continued to increase at Bermuda headquartered international specialty insurance and reinsurance firm Argo Group, with its net premiums dipping as a result of sharing more of its underwritten risk premiums (and likely losses) with third-party investors.Argo has been steadily ramping up its use of third-party read the full article →

Swiss Re to remain a major ILS & alternative capital player: CFO Dacey

Having brought together its insurance-linked securities (ILS) and retrocessional reinsurance activities last year, global firm Swiss Re expects to remain a major player in the alternative capital space, its CFO said yesterday.Swiss Re reorganised its insurance-linked securities (ILS) and retrocessional capabilities in 2019, merging its ILS and retro teams within read the full article →

AXIS’ third-party capital from ILS investors shrank in 2019

Despite the fact AXIS Capital significantly increased its fee income earned from third-party capital sources in 2019, the firms assets from ILS style investors shrank over the course of the year and the company began 2020 with less of this type of investor capital than a year earlier.Bermuda-based specialist insurance read the full article →

Brit raised third-party capital funds in 2019, shared fewer losses with investors

Specialty insurance and reinsurance player Brit Ltd. successfully raised new capital for its range of insurance-linked securities (ILS) funds and structures in 2019, while investors had a better year as well as the company shared much fewer losses with them.In reporting its results this morning, Brit's senior executive team explained read the full article →

Peak Re sees ILS capital as key, can help investors access Chinese risks: CEO Hahn

The ability to access the capital markets is key for reinsurers and with Hong Kong eager to establish itself as Asia’s insurance-linked securities (ILS) hub, Peak Re is well positioned to serve as a conduit between investors and Chinese property catastrophe risks.This is according to the Chief Executive Officer (CEO) read the full article →

Fidelis gets $300m capital injection, including from Abu Dhabi Investment Authority

Fidelis Insurance Holdings Limited, the specialty insurance and reinsurance firm launched by Richard Brindle, has announced a new raise of fresh capital to help it expand its business, with an equity growth round that featured the Abu Dhabi Investment Authority alongside existing shareholders.It's notable that the Abu Dhabi Investment Authority read the full article →