Cyrus Re

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.

Share

Cyrus Re sidecar snapshot

  • Reinsurance sidecar: Cyrus Re
  • Sponsor: XL Group
  • Launched: December 2005
  • Latest size: $635m (as at December 2006)

Cyrus Re sidecar details

The $525m fully-collateralized reinsurance sidecar vehicle, Cyrus Re, was established by XL in late 2005 in order to assume a portion of the property catastrophe risks taken on by XL through its business in Bermuda, Dublin, continental Europe and Toronto.

The special-purpose quota share counter-party, Cyrus Re, acts as a reinsurer of XL property catastrophe and retrocessional business and was issued with a duration of two underwriting years, although with mutual consent this could be extended.

A year after its launch, in December 2006, the fully-collateralized reinsurance sidecar had a capital base of $635m, following additional contributions.

Go back to the Artemis Collateralized Reinsurance Sidecar Directory.

———————————————————————
Artemis London 2022 - Insurance-linked securities conference in LondonTickets are selling fast for Artemis London 2022, our first ILS conference in London. Sept 6th, 2022.

Register soon to ensure you can attend.

Secure your place at the event here!
—————————————