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Sidecars

  • Liberty Mutual's new Limestone Re sidecar could pave the way for further disintermediation in the (re)insurance sector, a Standard & Poor's (S&P) insurance analyst said at the Sifma IRLS conference in Miami last month
  • Munich Re said it had widened the investor base of its Eden Re II sidecar for 2017, as it released full-year 2016 results that showed a 55 percent drop in operating profits from its core reinsurance division
  • Hannover Re ceded 55 percent more catastrophe losses to its retro partners in 2016 than in 2015, passing on EUR219mn ($231mn) of claims throughout the year.
  • Brit sidecar Versutus has grown its collateralised reinsurance capacity by $40mn to $150mn after adding in cover for its North American property insurance binder business
  • Liberty Mutual's new Limestone Re sidecar could pave the way for further disintermediation in the (re)insurance sector, though many primary insurers may not be sophisticated enough to follow its lead, a Standard & Poor\'s (S&P) insurance analyst said today at the Sifma IRLS conference in Miami.
  • Alleghany subsidiary TransRe now manages about $500mn of sidecar capital, up from $400mn in 2016
  • Aspen Capital Markets said that it expanded its Peregrine vehicle for 2017 as well as increasing the size of its Silverton Re sidecar, as previously announced
  • RenaissanceRe posted a 5 percent increase in fees and profit commissions from third-party investors in its property reinsurance portfolios last year.
  • The Cayman Islands Monetary Authority (CIMA) announced it has streamlined the application process for local cat bond vehicles in order to complete the licensing process within 5-10 business days.
  • Hannover Re was among the reinsurers to top up on retro through expanded sidecar placements in the January renewals
  • Convergence may be a preferred term for the ILS markets, but arguably it is becoming just as much of a misnomer for today's industry as the now outmoded "alternative reinsurance"
  • City National Rochdale has rebranded its new reinsurance interval fund and disclosed that it will invest its assets via Bermudian manager Iris Re.
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