AlphaCat 2015 Ltd.
The Artemis Catastrophe Bond and Insurance-linked Securities Deal Directory aims to provide a one-stop resource for information on every cat bond and ILS transaction we hold information on. The content of this Deal Directory is provided as is and there will be some omissions. Help us to keep these cat bond and ILS transaction summaries up to date by contacting us if you see an error or omission that you can correct.
AlphaCat 2015 Ltd. sidecar snapshot
- Reinsurance sidecar: AlphaCat 2015 Ltd.
- Sponsor: AlphaCat Managers (Validus)
- Launched: January 2015
- Latest size: $155m (as at Jan 2015)
AlphaCat 2015 Ltd. sidecar details
Bermudian insurer and reinsurer Validus Holdings, via its insurance-linked securities, catastrophe bond and reinsurance linked investments unit, AlphaCat Managers Ltd., raised $155m of capital for its reinsurance sidecar, AlphaCat 2015 Ltd. during the January renewal period.
A year earlier, Validus launched its fully-collateralized reinsurance and retrocession sidecar AlphaCat 2014 Ltd., sized at $160m of which $138m, or 86.25% was contributed from third-party capital investors. The remaining balance was provided by Validus itself.
Prior to this Validus, and again through its AlphaCat Managers Ltd. subsidiary, raised $230m of capital for a new 2013 reinsurance sidecar, named AlphaCat 2013 Ltd. The vehicle was again designed to invest in collateralized property catastrophe reinsurance and retrocession on a worldwide basis. Of the $230m the majority, $185m, was provided by third-party investors, with Validus contributing the remaining $45m.
Prior to the 2012 hurricane season Validus launched AlphaCat Re 2012 Ltd., a Bermuda domiciled special purpose vehicle formed to write collateralized reinsurance with a focus on the hurricane risks in the Florida insurance market. The fully-collateralized reinsurance sidecar vehicle launched with $70m of capital, some of which came from third-party capital investors and also from Validus itself.
June 2011 saw Validus Holdings launch its first special purpose sidecar reinsurer, AlphaCat Re 2011 Ltd., with $180m of capital. $130m of the fully-collateralized reinsurance sidecar came from third-party investors, with Validus contributing the remaining $50m.
Go back to the Artemis Collateralized Reinsurance Sidecar Directory.