Reinsurance News
sidecar
Allianz launches life reinsurance sidecar Sconset Re
10th December 2024
Global insurer Allianz has established a new independent strategic reinsurance platform called Sconset Re Ltd., which will be capitalized through equity investments from high-quality institutional partners. Located in Bermuda, Sconset Re will specialise in assuming Fixed Indexed Annuity product risk and its asset management, and will aim to deliver more efficient ... Read the full article
Register for Artemis’ live webinar on the use of alternative capital sources by originators of risk
22nd October 2024
Artemis, our insurance-linked securities (ILS) focused sister publication, has partnered with Artex Capital Solutions, the specialist unit of Artex Risk Solutions that creates and manages ILS and related structures, to host a live webinar on the use of alternative capital sources by originators of insurance risk. This ... Read the full article
MS Amlin’s Phoenix sidecar a stable investment opportunity: William Ho
16th October 2024
Chief Executive Officer (CEO) of MS Amlin Asia Pacific, William Ho, in a recent video interview with our insurance-linked securities (ILS) focused sister publication, Artemis, discussed the re/insurer's series of Phoenix sidecar transactions. After renewing a quota share arrangement via reinsurance sidecar vehicle Phoenix 2 Re Pte. Ltd., ... Read the full article
Strong pricing levels for reinsurance propelled ILS market in 2023: AM Best
19th March 2024
According to rating agency AM Best, the strong pricing levels for reinsurance capital was one factor that helped generate a record-breaking year for the insurance-linked securities (ILS) market in 2023. Throughout last year, reinsurance pricing rose in numerous business lines, and notably in property catastrophe, which is where much of the ... Read the full article
MS Amlin completes first ever renewal of ILS arrangement in Singapore with Phoenix 2 Re
25th January 2024
MS Amlin, the Lloyd’s global specialty re/insurer, has confirmed that its Singapore-domiciled operation, MS Amlin Asia Pacific Pte. Ltd (MS AAP), has secured collateralised capacity through numerous investors worldwide for the successful renewal of its local special purpose reinsurance vehicle (SPRV), Phoenix 2 Re. This is the fourth Phoenix Re collateralized ... Read the full article
Architecture in place, but progress on closing protection gap frustratingly slow: Swiss Re CEO
19th September 2023
Swiss Re, one of the world’s largest reinsurance companies, is passionate about closing the protection gap, and although much of the architecture is in place, progress has been frustratingly slow, according to Chief Executive Officer (CEO), Christian Mumenthaler. The protection gap is the difference between economic and insured ... Read the full article
Global Atlantic raises over $2.4bn for second co-investment vehicle
10th July 2023
Life and annuity re/insurance firm Global Atlantic Financial Group has closed a more than $2.4bn third-party capital raise for its second reinsurance co-investment vehicle, Ivy Co-Invest Vehicle II LLC (Ivy II). Ivy II is a reinsurance co-investment vehicle through which Global Atlantic brings third-party capital into its business to augment its ... Read the full article
RGA and RenRe to wind down life & annuity reinsurer Langhorne Re
15th February 2023
Langhorne Re, the global reinsurer targeting large in-force life and annuity blocks launched in 2018 by Reinsurance Group of America (RGA) and RenaissanceRe (RenRe), is being wound down as it failed to complete any deals and its capital commitments expired without renewal, as first reported by our sister publication Artemis. Read the full article
CCR Re launches 157 Re sidecar for 2023 with 40% more capital raised
18th January 2023
CCR Re, the French state-owned reinsurer, has sponsored the fifth renewal of its 157 Re 23 sidecar vehicle, increasing the capital raised on the previous year despite an extremely tight retrocession marketplace. According to the reinsurer, it succeeded in increasing the capital raised by over 40% when compared to 2022, ... Read the full article
Ark sponsors $250m collateralized reinsurance sidecar
21st December 2022
Ark Insurance Holdings Limited, specialty property and casualty re/insurance subsidiary of White Mountains Insurance Group Ltd., has successfully sponsored a $250 million collateralized reinsurance sidecar, Outrigger Re Ltd. According to the announcement, the Outrigger Re sidecar has been formed to provide collateralized reinsurance capacity for Ark’s global property catastrophe portfolio. Manning Rountree, ... Read the full article
Insurtech Accelerant launches $175mn reinsurance sidecar vehicle
24th August 2022
Insurtech platform Accelerant has launched a new $175 million sidecar investment vehicle, called Flywheel Re. The new sidecar will provide multi-year risk capital to Accelerant and its cohort of underwriting-led specialist members. Goldman Sachs & Co. LLC served as exclusive placement agent to Accelerant and Sidley Austin LLP acted as legal counsel. Founded ... Read the full article
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