-
The January 2020 sidecar renewal season could emerge as a turning point in the evolution of reinsurer ILS tactics and strategies.
-
Fee income from capital partners nearly doubled to $80.2mn in 2019, up from $48.5mn in 2018.
-
-
He will work on growing the firm’s reinsurance partnerships and quota-share relationships.
-
Sidecar capacity is likely to be down by at least 20 percent year on year after a renewal in which ILS investors have pulled back significant capacity, sources estimated.
-
Overall sidecar capacity has been cut by more than 20 percent, sources estimate. -
The Bermuda-listed component shrank by $8mn year on year, as the insurer said it expected overall alternative support to remain stable.
-
The funds raised for Eden Re II this renewal have reached $285mn down from $300mn last year.
-
The deal may replace a $55mn sidecar listed this time last year, which sources said provided reinsurance for a short-tail property insurance book.
-
Peak Re was able to increase sidecar cover for its global property reinsurance risk portfolio amid stalling ILS capacity this renewal.
-
It has raised a preliminary $54.6mn of debt for the vehicle, which provided $300mn of limit last year.
-
The main disrupted segments are still aggregate retro and sidecar vehicles, where negotiations over the level of trapped capital have held up the renewal process.
