Reinsurance sidecars news

In an interview with Artemis, Laurent Montador, Deputy CEO of French reinsurer Arundo Re, discussed the recent renewal and launch of the seventh sidecar in the 157 Re series of deals, stating that it enhances the company’s capability to allocate more capacity in targeted areas while strengthening alignment with investors.

Aspen Capital Markets, the third-party, ILS and alternative reinsurance capital management unit of global re/insurer Aspen, generated half of the fee income earned in calendar year 2024 from managing casualty insurance and reinsurance opportunities for its investors.

Stone Ridge Asset Management, the New York based alternative risk premia focused investment manager, is set to liquidate the Post-Event Reinsurance Fund that it originally launched back in 2015, Artemis has learned from company filings.

Hannover Re is anticipating a roughly EUR 230 million recovery from its retrocessional reinsurance to support its losses from the Los Angeles wildfires, with the majority of that expected to come from the proportional K-Cessions quota share sidecar, Sven Althoff, Member of the Executive Board for Property & Casualty (P&C) said this morning.

AXA Group reported that gross written premiums grew by 12% for its AXA XL Reinsurance division during the first-quarter of the year, but the firm’s CFO Alban de Mailly Nesle explained that the majority of that was ceded to insurance-linked securities (ILS) strategies.

Everest Group reported a 95% jump in ceded property catastrophe written premiums to cells of its Mt. Logan Re Ltd. third-party capitalised sidecar-like structure in the first-quarter of 2025, as more excess-of-loss business was shared with the investors backing the Mt. Logan Capital Management strategies.

White Mountains reported that in the first-quarter of 2025 its investment into the Outrigger Re collateralized reinsurance sidecar, that supports its property and casualty insurance and reinsurance subsidiary Ark, was impacted by the California wildfires which contributed to a loss for the sidecar and an elevated 166% combined ratio for the period.

Listings of catastrophe bond notes on the Bermuda Stock Exchange (BSX) rose by almost 5% in notional limit terms over the first-quarter of 2025, to end the period at a new high of $47.53 billion.

For full-year 2024, AXIS Capital ceded $323 million of prospective reinsurance premiums to its Monarch Point Re casualty insurance-linked securities (ILS) platform, which was an increase of 13% over the prior year. In addition AXIS earned an increased level of fees and commissions from the ILS structure.

Sutton National Group has sponsored its first collateralized reinsurance sidecar issuance, a $70 million Greenshoots Re Ltd., which alongside its recent debut $100 million Greengrove Re Ltd. (Series 2025-1) catastrophe bond now provide core catastrophe cover for business written by Bamboo Ide8 Insurance Services, LLC.