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LGT ILS Partners launched its Bermudian rated vehicle Lumen Re with $350mn of equity, according to an AM Best rating report.
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The Bermuda Monetary Authority (BMA) has asked local alternative reinsurance operators to disclose a detailed schedule of contracts written and losses incurred, including within loss-struck 2017 portfolios.
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UK-based insurer Brit has announced in its 2017 results that its new vehicle, Sussex Capital, was launched with $102.5mn of capital.
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Brit increased its Versutus sidecar by almost 25 percent to $187mn of capital for 2018, the insurer announced.
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MS Amlin took 77.8bn yen ($724mn) of losses from last year's hurricanes and Californian wildfires, with 24.9bn yen ($232mn) of these losses coming through in the fourth quarter due to the Californian wildfires.
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Aspen increased the amount of third party capital it has under management to $550mn at this year's renewals, up 20 percent from the same period in 2017.
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Axis CEO Albert Benchimol said the company had significantly grown the amount of business it cedes to third-party capital in 2018 as it said it had more than $1.05bn of alternative capital support for property catastrophe business.
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The strategy of Langhorne Re, the closed-ended life fund set up last month by RenaissanceRe and life reinsurer Reinsurance Group of America (RGA), will be based largely around a leveraged asset play, according to sources.
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Wildfire losses had a varying impact on some of the reinsurer-affiliated ILS platforms in the fourth quarter.
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LGT ILS Partners launched its Bermudian rated vehicle Lumen Re with $350mn of equity, according to an AM Best rating report.
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The sidecar market has expanded notably in 2018 as Sompo and Axis became the latest carriers to provide updates on new or expanded vehicles.
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Everest Re's Mt Logan sidecar reached $1.03bn of assets under management on 1 January, up by almost $200mn in the fourth quarter.
