third party capital

The Mt. Logan Re collateralized reinsurance sidecar operated by Bermudian re/insurer Everest Re has grown its third-party assets under management by 80% in the first-half of 2015, as the reinsurer puts an increasing focus on its companion sidecar vehicle.

Mt. Logan Re, the collateralized reinsurance sidecar or perhaps better termed third-party capital companion reinsurance vehicle owned by re/insurer Everest Re, has announced the hire of ex-Platinum exec Chris Caponigro as its Head of Business Development.

Re/insurance firm Everest Re added a further inflow of investor capital into its Mt. Logan Re colllateralized reinsurance sidecar at the April renewals, leading the firms CUO to call the sidecar “one of the fastest growing convergence vehicles.”

Mt. Logan Re, the collateralized reinsurance sidecar vehicle of global reinsurer Everest Re, has doubled the amount of premiums it underwrote in the first quarter, compared to the prior year, which on top of an improved combined ratio will deliver attractive returns to its investors.

We jumped the gun slightly on Mt. Logan Re yesterday, saying it had reached $500m at the end of December 2014, as the firm said that additional capital of $270m was raised for the January renewal, taking Everest Re’s collateralized reinsurance sidecar closer to $810m in size, we believe.

Bermuda-based reinsurance firm Everest Re has continued to gradually increase the size of its third-party capital backed, fully-collateralized reinsurance sidecar Mt. Logan Re Ltd., meaning the vehicle is growing its contribution to results.

Mt. Logan Re Ltd., the collateralized reinsurance sidecar operations of Bermuda-based global reinsurance firm Everest Re, has appointed experience reinsurance professional Dave Brining as Non-Executive Independent Director.

Mt. Logan Re Ltd., the collateralized sidecar reinsurance operations of Bermuda headquartered global reinsurance firm Everest Re, has announced the appointment of Krystalle Tobin as its Chief Financial Officer.

Global reinsurance firm Everest Re’s Mt. Logan Re collateralized reinsurance sidecar and the use of instruments such as catastrophe bonds and ILW’s are helping the reinsurer to reduce its cost-of-capital and position itself for growth and profitability.

Bermuda headquartered reinsurance company Everest Re has continued to demonstrate that its third-party capital backed, fully-collateralized reinsurance sidecar Mt. Logan Re is core to its business, growing the sidecar again in the last quarter to around $480m.