Sidecars

RenaissanceRe's permanent sidecar DaVinci Re posted a 7 percent fall in Q1 net income to $52.0mn, on the back of a 22 percent reduction in net earned premium income of $61.0mn.

Blue Capital Reinsurance Holdings declared a $5.4mn profit for the first quarter of 2015, down from $6.1mn in the prior-year period as premium income dipped slightly.

Swiss Re said it wrote 7 percent more P&C reinsurance premiums in the April renewals than in 2014, expanding in high growth markets to add $1.5bn of premium to its books.

PartnerRe has said that it will retrocede $36mn of agricultural premiums to its Lorenz Re sidecar in the April renewals, according to its first quarter earnings call.

Everest Re raised $60mn of capital for its sidecar Mt Logan Re at 1 April, taking the vehicle's total assets under management (AuM) to $750mn, the carrier's CUO John Doucette said on a Q1 earnings call.

PartnerRe wrote $191mn of catastrophe gross written premium (GWP) in the first quarter, down 9 percent from $210mn in Q1 2014.

Everest Re sidecar Mt Logan Re doubled its gross written premium (GWP) in the first quarter, while the rest of the group's reinsurance top line remained flat.

Aspen posted a 2.7 percent increase in reinsurance gross written premiums (GWP) during the first quarter to $484.8mn

The Ontario Teachers' Pension Plan said it remained "fully committed" to Lloyd's insurer ANV after the company parted ways with its founding CEO Matt Fairfield.

There is uncertainty over the role reinsurance sidecars will play in the long term, according to Nephila's business development director Adam Beatty.

Stone Ridge Asset Management earned a 4.5 percent average return from its continuing sidecar investments in the three months from November 2014 to January 2015, according to Trading Risk records.

Pioneer Investment Management has published its first quarterly report for its new ILS Interval fund, disclosing sums committed to a number of reinsurance sidecars including Munich Re's Eden Re II and Brit's new Versutus Re vehicle.