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.


Trapped ILS capital COVID issues largely postponed beyond renewal

Issues related to the potential for insurance-linked securities (ILS) collateral to be trapped, because of uncertainty over the COVID-19 pandemic and its potential losses for the insurance and reinsurance industry, have largely been postponed until after the January renewals. While numerous insurance-linked securities (ILS) fund managers have already prudently reserved against read the full article →

Elevation Re launched as first run-off reinsurance sidecar by Premia

Premia Holdings, the global run-off and legacy reinsurance specialist underwriter, has become the first run-off player to bring additional capital into its business using a collateralized reinsurance sidecar structure, with the launch of Elevation Re. A number of run-off and legacy insurance and reinsurance players have been exploring the use of read the full article →

Stone Ridge added non-cat reinsurance investments in 2020: CEO Stevens

Stone Ridge Asset Management, the New York based asset manager with a focus on alternative risk premia strategies including reinsurance and insurance-linked securities (ILS), successfully expanded the remit of its reinsurance and ILS investments to include non-catastrophe risks this year. Almost a year ago we revealed that Stone Ridge Asset Management read the full article →

Phoenix 1 Re, a Singapore SPRV, in $42.14m private ILS issuance

A new Singapore domiciled insurance-linked securities (ILS) transaction has come to light, after a recently registered Special Purpose Reinsurance Vehicle named Phoenix 1 Re Pte. Ltd. issued and listed almost $42.14 million of private ILS notes. At this stage we're not sure if the Phoenix 1 Re Pte. Ltd. issuance represents read the full article →

W. R. Berkley raises $250m for Lifson Re P&C reinsurance sidecar

Insurance holding company W. R. Berkley Corporation has launched its first foray into third-party reinsurance capital management with the set-up of a Bermuda based special purpose insurer (ILS) named Lifson Re Ltd. that will act as a kind of P&C reinsurance sidecar structure for the company. Lifson Re Ltd. has been read the full article →

Bermuda’s new ISAC an all-in-one underwriting & ILS fund structure

New Incorporated Segregated Accounts Companies (ISAC) available under Bermuda law and regulation, will enable insurance-linked securities (ILS) managers, or investors, to operate both underwriting and investment fund activities within a single company structure. Now, this is a structure that has been talked about numerous times in the insurance-linked securities (ILS) market, read the full article →

Munich Re in first Eden Re II reinsurance sidecar renewal for 2021

Global reinsurance giant Munich Re has now completed the issuance of a first set of notes from its fully collateralized reinsurance sidecar vehicle Eden Re II Ltd. for this January renewal season, with a $55.1 million tranche of Series 2021-1 notes sold to investors. Munich Re's collateralized reinsurance sidecar is a read the full article →

Swiss Re registers 1863 Re as an SPI in Bermuda for its ILS fund venture

Swiss Re, the global reinsurance company, has registered a special purpose insurer (SPI) in Bermuda which will presumably act as an underwriting vehicle for its recently established dedicated ILS fund, the Core Nat Cat Fund under 1863 Fund Ltd. The Bermuda domiciled special purpose insurer (SPI) is named 1863 Re Ltd. read the full article →

Ivy Re sidecar helps Global Atlantic on $8.5bn reinsurance deal with Unum

United States life, retirement and annuities insurance and reinsurance company Global Atlantic continues to deploy capital from its co-investment vehicle named Ivy, which operates like a sidecar structure, with the structure participating in an $8.5 billion reinsurance transaction with Unum Group. The reinsurance transaction featured a closed block of seasoned individual read the full article →

Fidelis takes capital over $2.4bn, plus its cat bonds & sidecar quota shares

Fidelis Insurance Holdings Limited, the specialty insurance and reinsurance firm launched by Richard Brindle, has taken its capital raising efforts in 2020 to more than $1.3 billion and that's just its equity and debt raises. Fidelis has expanded its capital base significantly over the year, more than doubling its total capital read the full article →