Silverton Re

Global insurance and reinsurance firm Aspen’s collateralized reinsurance sidecar Silverton Re has seen the value of its long-term debt, which was issued to third-party investors, grow by approximately 11% in Q3 2015, from $76.2 million to $84.5 million.

Global re/insurer Aspen’s collateralized reinsurance sidecar vehicle Silverton Re has seen its long-term debt, which was issued to third-party investors, increase in value from $70.7m at the start of the year to $76.2m at 30th June, a 7.8% increase.

With the current softened state of reinsurance rates and competitive pressures from well-capitalised reinsurers and growing insurance-linked securities players, the property catastrophe reinsurance market is “not as much fun as it was,” according to Aspen CEO Chris O’Kane.

Global insurance and reinsurance firm Aspen ceded a portion of its U.S. insurance business to third-party investors in its Aspen Capital Markets unit for the first time recently, while growing its third-party capital assets under management to $185m by the end of 2014.

Global re/insurance firm Aspen felt the competition in reinsurance during 2014, forcing it to remain disciplined and non-renew some business at 1/1, but it expects to expand on its Aspen Capital Markets offerings and leverage its access to third-party capital in 2015.

Global insurance and reinsurance firm Aspen said that its alternative capital management and insurance-linked securities (ILS) focused unit, Aspen Capital Markets, has renewed its Silverton Re collateralized reinsurance sidecar for 2015, with $85m of capital.

Global insurance and reinsurance company Aspen  will look to increase the third-party capital under management at its Aspen Capital Markets unit and increase the range of products available to investors in 2015, according to CEO Chris O’Kane.

Global insurance and reinsurance firm Aspen’s collateralized reinsurance sidecar vehicle Silverton Re has increased the value of its long-term debt, which was issued to third-party investors, to $64.5m which is up 15% in the third-quarter.

Chris O’Kane, CEO of global insurance and reinsurance firm Aspen, said that the company’s alternative capital management and insurance-linked securities (ILS) unit Aspen Capital Markets is a growth area and its third-party reinsurance capital has risen to $135m.

Global insurance and reinsurance firm Aspen’s collateralized reinsurance sidecar Silverton Re looks to have achieved 12% performance in the first six months of 2014, according to the firms quarterly results published yesterday.