Reinsurance sidecars news

According to report from the Wall Street Journal, Ascot Group, the specialist global re/insurance underwriter, is partnering with credit focused investor Antares Capital to launch a Bermuda based reinsurance sidecar vehicle named Wayfare Re, that the report suggests will have a casualty focus.

Japan Post Insurance has now agreed its planned $2 billion investment into a new reinsurance co-investment vehicle, or sidecar, to gain access to the strategic returns from business activity of KKR’s U.S. life, retirement and annuities insurance and reinsurance company, Global Atlantic Financial Group.

In an interview with Artemis, Terrence McLean, Chief Executive Officer (CEO) of SageSure, discussed the firm’s debut reinsurance sidecar transaction Seawall Re Ltd., stating that he thinks of it as the first in a series of additional transactions which has a direct focus on sideways and other perils.

SageSure, the specialist catastrophe-exposed property managing general underwriter (MGU), has sponsored its debut reinsurance sidecar transaction under Seawall Re Ltd., securing $50 million of third-party retro support from investors for its captive reinsurance vehicle Anchor Re.

Eaton Vance, part of Morgan Stanley Investment Management, has added to two of the insurance-linked securities (ILS) allocations it makes within its mutual fund range, with an upsized commitment to the Swiss Re Core Nat Cat Fund and a fresh investment into Munich Re’s sidecar vehicle Eden Re II made for 2025.

The insurance-linked securities (ILS) market has returned in recent years, with meaningful investor interest being seen again. But the ILS market has resurged in a much healthier way and the expectation is it will remain more balanced with the rest of reinsurance, according to Jim Williamson, President and CEO, Everest Group.

The Pioneer Investments mutual insurance-linked securities (ILS) team has now successfully grown its dedicated catastrophe bond fund strategy past the billion dollar mark, with the recently renamed Victory Pioneer CAT Bond Fund reaching $1.13 billion in assets under management this month.

Stone Ridge Asset Management, the New York based alternative risk premia focused investment manager, has reported that the insurance-linked securities (ILS) assets under management in its mutual reinsurance fund strategies increased to almost $5.3 billion in the last quarter of record, with catastrophe bonds seemingly growing in focus.

Chariot Reinsurance (Chariot Re), the Bermuda-based life and annuity reinsurance sidecar company launched by MetLife, Inc. in partnership with investor General Atlantic, has now completed its first transaction, assuming $10 billion of liabilities.

Accelerant Holdings, the tech-focused company that helps its members exchange or transfer risk more effectively, while connecting them with long-term capital, has upsized and renewed its Flywheel Re collateralized reinsurance sidecar, securing meaningfully increased capital backing from core investor Barings, LLC in the process.