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.
Rockridge Re sidecar snapshot
- Reinsurance sidecar: Rockridge Re
- Sponsor: Montpelier Re
- Launched: June 2005
- Latest size: $90.9m (as at June 2005)
Rockridge Re sidecar details
Montpelier Re launched its fully-collateralized reinsurance sidecar vehicle, Rockridge Re, in June 2005, capitalised to the tune of $90.9m. $10m of which was invested by Montpelier Re itself with the remaining capital coming from third-party investors. The reinsurance sidecar vehicle, registered as a Cayman reinsurance company, was established to invest its assets in a fixed income arbitrage strategy and to assume high-layer, short-tail reinsurance risks, principally from Montpelier Re.
At the same time Montpelier Re reached an agreement with West End Capital Management Ltd. (WECM) of Bermuda, to equally share ceding commissions and investment management fees payable by Rockridge Re to WECM.
Rockridge Re ceased operating in December 2006, returning 97% of its capital to investors.
Go back to the Artemis Collateralized Reinsurance Sidecar Directory.