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Sidecars

  • The AlphaCat-managed PAC Re sidecar is exploring the possibility of expanding beyond property cat into other business lines including casualty treaty, sister publication The Insurance Insider has reported.
  • The speed at which ILS premiums are falling has begun decelerating after a 28.5 percent fall over the year to 31 March, Lane Financial analysts said in their latest annual report on the sector.
  • Bermudian reinsurer Everest Re has entered the ILS market for the first time to secure retro protection through a $250mn US wind and quake cat bond, Kilimanjaro Re.
  • Traditional reinsurers have begun using alternative capital to help them match the cheaper prices offered by investors that view the sector as a diversifying source of return, Aon Benfield said in its report on the 1 April renewal season.
  • Stone Ridge Asset Management has filed the first quarterly report for its new $600mn Interval fund, revealing a host of investments in reinsurer quota shares led by a $100mn stake in Everest Re's $370mn Mt Logan Re sidecar.
  • The AlphaCat-managed PAC Re sidecar is exploring the possibility of expanding beyond property cat into other business lines including casualty treaty, sister publication The Insurance Insider has reported
  • Reinsurers increasingly need to think of themselves as "capital allocators" as well as "risk selectors", RenaissanceRe chief executive Kevin O'Donnell said.
  • Allied World lifts commitment to Aeolus; Blackstone keeps cat bond portfolio stable; Twelve issues second Dodeka; TransRe builds on Pangaea; Kinesis draw-down; Axis Ventures raises $50mn
  • New rated reinsurance vehicles may be being driven by investors wanting access to particular asset managers' strategies, but there remains some capital markets interest in casualty risk for its own sake.
  • As two reinsurance vehicles backed by asset managers moved closer to launch this month, casualty market participants are speculating that these new start-ups may lead to a similar revolution to that which has transformed the property cat sector.
  • PartnerRe is looking to bring capital market investors onto its panel of crop retrocessionaires, Trading Risk can report.
  • Amlin expects to increase its 40 percent share in London-based fund manager Leadenhall Capital Partners in 2014 or fully buy out the current management ownership stake, the reinsurer said as it reported its 2013 results.
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