French reinsurer CCR Re has sponsored the seventh vintage of its collateralised reinsurance sidecar vehicle, 157 Re 25.
According to the announcement, CCR Re has made a number of improvements to the operation of 157 Re to facilitate future renewals, as well as aligning with its strategy of diversifying its sources of third-party capital.
“This seventh issue, and the improvements made to 157 Re, testify to a shared ambition with our investors to build this platform for the long term,” commented Mathieu Halm, Chief Retrocession, Alternative Capital Officer and Board Secretary.
The reinsurer said that it benefits from the continued confidence of 157 Re’s long-standing investor partner, Boussard & Gavaudan Investment Management LLP.
CCR Re also said that it benefited from the expertise of Gallagher Securities (acting as structuring and placement agent), France Titrisation (acting as management company), BNP Paribas Securities (acting as custodian bank) and the legal advice of Linklaters.
The 157 Re sidecar series provides CCR Re with an efficient way to access reinsurance from the capital markets, through an aligned approach to risk sharing with its investor partners.
At a similar time last year, CCR Re sponsored the sixth vintage of its 157 Re 24 sidecar vehicle.
