Reinsurance sidecars news

Stone Ridge Asset Management, the New York based asset manager an alternative risk premia focus, saw its dedicated mutual insurance-linked securities (ILS) fund assets under management (AuM) remain relatively flat in the last quarter of record, but the manager started adding catastrophe bonds and sidecar investments to another alternatives fund.

Non-life legacy insurance and reinsurance as well as program management firm R&Q Insurance Holdings Ltd. has revealed earning $12.1 million in fee income from its first full year operating the legacy insurance focused collateralised reinsurance sidecar, Gibson Re.

Oxbridge Re Ltd., the Cayman Islands based reinsurance firm with a Gulf Coast risk focus, has successfully raised $2.4 million through the sale of digital or tokenized reinsurance securities named DeltaCat Re, which will be used to support collateralized reinsurance contracts underwritten via its sidecar structure, Oxbridge Re NS.

Mt. Logan Re, Bermuda-based re/insurer Everest’s collateralized reinsurance investment vehicle, has announced the addition of Charles E.F. Millard as a Non-Executive Independent Board Director, as well as the retirement of long-serving Board member Frank Lopapa.

Factorial Funds, a Los Angeles headquartered global asset manager, historically better known for investment strategies with a technology, venture capital and growth equity focus, is entering the insurance-linked securities (ILS) space, while also looking at other reinsurance opportunities as well.

Japan Post Insurance is set to make an investment into a reinsurance sidecar-like co-investment vehicle sponsored by United States life, retirement and annuities insurance and reinsurance company, Global Atlantic Financial Group.

Catastrophe bond and insurance-linked securities (ILS) market conditions improved somewhat for sponsors during the first-quarter of 2023, with tightening of pricing welcomed by re/insurers, Aon Securities has said.

Having launched its new $250 million Outrigger Re collateralized reinsurance sidecar at the end of 2022, White Mountains re/insurer subsidiary Ark is already benefiting, with the additional capital helping it to grow its premiums written in the attractive market environment.

Stone Ridge Asset Management’s mutual insurance-linked securities (ILS) fund assets under management (AuM) rose in the last quarter of record, seemingly driven in the main by improvements in catastrophe bond values and returns.

PartnerRe, the Bermuda headquartered reinsurance company, continued to cede a significant amount of premiums to its main insurance-linked securities (ILS) vehicle Lorenz Re in 2022, but signalling the effects of loss activity, the firm’s reinsurance recoverable from segregated cells of the structure soared.