Swiss Re Insurance-Linked Fund Management

Original Risk: A Society for Change Agents

Silverton Re

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Silverton Re sidecar snapshot

  • Reinsurance sidecar: Silverton Re
  • Sponsor: Aspen
  • Launched: December 2013
  • Latest size: ~$92.4m (As at July 2015)

Silverton Re sidecar details

The Silverton Re sidecar was launched in December 2013 by Aspen Capital Markets, a division of Aspen Re with an initial size of $65m. It’s registered as a Bermuda domiciled Special Purpose Insurer (SPI) and launched with $15m capitalisation from Aspen Re, with the remaining $50m being raised via third-party capital investors.

The value of the long-term debt issued by Silverton Re grew in the three quarters after its inception taking its total size to roughly $80m in October 2014. Furthermore, when renewing the sidecar vehicle for 2015 Aspen Capital Markets revealed it had raised a further $20m of third-party investor capital, taking Silverton Re’s total size to $85m, as of December 2014.

The roughly $70m of third-party investor capital raised since the inception of Silverton Re, according to Aspen’s H1 2015 results, increased in value by 7.8% by the end of June 2015. Meaning the fully-collateralized reinsurance sidecar vehicle has a current capital base of ~$92.4m.

Go back to the Artemis Collateralized Reinsurance Sidecar Directory.

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