-
New sidecar launches continued in early 2014 following a prolific round of 2013 activity, as P&C (re)insurers formed a total of nine known vehicles with just under $2bn of capital.
-
Hedge fund-backed collateralised reinsurer DE Shaw pulled back its participation in the January 2014 renewals as retro rates fell, Trading Risk understands.
-
Everest Re has raised $370mn for its special purpose reinsurer Mt Logan Re, well above its $250mn target, the company announced today.
-
Stone Ridge's two ILS funds reported returns of between 4.5 and 5.6 percent for the nine months to the year ended October 31, 2013, according to its first annual report.
-
Validus has funded its 2014 AlphaCat sidecar with $160mn of capital, including $138mn from third-party investors, the company announced overnight.
-
Ace has established a second Altair Re sidecar with the same $95mn capacity as its predecessor launched in April 2013, the company announced.
-
Argo Group has renewed its Harambee Re sidecar for 2014 at a larger size than in 2013, the reinsurer said today.
-
French reinsurer Scor today (6 January) confirmed that it had placed a $55.5mn sidecar, Atlas X, as reported by Trading Risk last week
-
Arch Capital has launched a multi-line reinsurance company, Watford Re, in partnership with Highbridge Capital Management, thereby joining the ranks of other hedge fund-backed reinsurers to set up in Bermuda such as PaCRe and Hamilton Re.
-
Excess capacity from ILS funds, sidecars, reinsurer-backed funds and traditional retrocession vehicles drove competition in the non-marine retrocession market at 1 January, according to Willis Re.
-
It wasn't a hurricane or any other natural disaster that prompted the 2013 wave of reinsurance sidecars, but rather a shockwave within the industry caused by the growing clout of ILS fund managers.
-
It has been a long time coming, but the cat bond market has finally returned to its pre-crisis heights, with 2013 issuance set to reach $7.5bn if all three bonds currently in the pipeline close on target.
