Swiss Re Insurance-Linked Fund Management

PCS - Emerging Risks, New Opportunities

Rockridge Re

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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.

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