Reinsurance sidecars news

SCOR, the France-headquartered global reinsurance company, continues to build out its risk partnership and third-party capital capabilities, with the latest hire to come to light being Tony Nguyen, an experienced insurance-linked securities (ILS) structuring and investment banking executive who joins the reinsurer from Goldman Sachs.

R&Q Insurance Holdings Ltd. has this morning confirmed that it is filing for a provisional liquidation in Bermuda, raising questions over the future of its collateralised legacy sidecar vehicle Gibson Re.

SCOR, the France-headquartered global reinsurance company, has promoted longstanding retrocession and third-party capital partnerships executive Benoît Liot to the new role of Head of Risk Partnerships, which will see him lead on activities with third-party investors, while retrocession will be centralised beneath his leadership.

Cayman headquartered reinsurance company Oxbridge Re has reported that the firm’s first series of tokenized reinsurance sidecar securities have now realised a 49% return for the investors backing them, surpassing both initial and updated expectations.

Oxbridge Re Ltd., the Cayman Islands based reinsurance company, has announced today that it is considering “strategic alternatives” for the business, including a potential sale or merger, various capital actions, or even spinning out its tokenized reinsurance investments unit.

Swiss Re Insurance-Linked Investment Management Ltd. (SRILIM), a specialist insurance-linked securities (ILS) fund management unit of the global reinsurance company, has now surpassed a new milestone of more than $1 billion in assets under management (AUM).

The catastrophe bond market has seen plenty of “well-informed” capital which has helped to drive volumes this year, while rates in the cat bond market are now a little less “frothy” than they had been at times over the last year or so, Swiss Re’s CFO John Dacey said this morning.

Executives from global reinsurance firm Hannover Re said today that there is no sign of new capital in the reinsurance market aside from through the catastrophe bond sector and some unlocked trapped collateral, and also discussed the Baltimore Bridge collapse saying that retrocession recoveries are anticipated.

White Mountains has reported that its investment into the Outrigger Re collateralized reinsurance sidecar, that supports its re/insurer subsidiary Ark, generated the company slightly more in pre-tax income through the first-quarter of 2024, despite the firm’s investment in the sidecar being smaller this year.

The year has begun strongly for Mt. Logan Re Ltd., the Everest Group owned and operated third-party investor capitalised reinsurance sidecar-like investment structure, as it received 64% more in ceded premium from its parent through the first-quarter.