The Artemis Collateralized Reinsurance Sidecar Directory provides information on fully-collateralized reinsurance sidecar vehicles established to enable third-party investors to share in the returns of insurance or reinsurance business.
Unsure what a reinsurance sidecar is? Read our explanation here: What is a reinsurance sidecar?
Lorenz Re sidecar snapshot
- Reinsurance sidecar: Lorenz Re
- Sponsor: PartnerRe
- Launched: March 2013
- Latest size: $84m (as at July 2015)
Lorenz Re sidecar details
The Lorenz Re sidecar was launched by Bermudian reinsurer PartnerRe in March 2013, with an initial size of $75m. At launch, PartnerRe described Lorenz Re as a companion facility and it was registered as a Bermuda domiciled Special Purpose Insurer (SPI) on February 5th, 2013. Described as a multi-year SPI facility that will enable PartnerRe to participate in the investor backed collateralized reinsurance market on a flexible, semi-permanent basis, Lorenz Re aims to be more than an opportunistic sidecar vehicle.
As of July 2015 a strategic change in direction saw the Lorenz Re SPI move away from its launch status as a purely fully-collateralized reinsurance sidecar to be used for its segregated account status. As a result, the Lorenz Re SPI now manages $134m of third-party investor capital via two segregated cells.
The sidecar, known internally as LRE 2015 now manages $84m of third-party capital, with the remaining $50m relating to a U.S. agricultural reinsurance deal which is 100% capitalised by third-party investors within two segregated cells named Demeter A and B.
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