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Sidecars

  • Stone Ridge Asset Management expanded the net asset base of its three reinsurance funds by 7 percent in the past quarter to $4.76bn, as it lifted its stake in Swiss Re sidecar Sector Re
  • The Pioneer ILS Interval Fund delivered a 6.01 percent gain in net asset value during the six months to 30 April, as the fund reached $110.95mn.
  • Paul Schultz, CEO of Aon Securities, was named the Outstanding Contributor of the Year at the 2016 Trading Risk awards in London last night (16 June)
  • Traditional reinsurers must use a flexible capital structure with both rated and unrated capital to succeed in the "new world order", Everest Re chief underwriting officer John Doucette has claimed
  • Swiss Re has around $395mn of retro support from its Sector Re sidecar after the vehicle completed its main fundraising before the mid-year renewals, Trading Risk understands
  • Chris Parry has left Aon Securities, where he headed the international division of the capital markets team, and is expected to join RenaissanceRe Ventures later this summer, sources said.
  • Collateralised reinsurers and ILS investors captured 12 percent more premium from the top 10 Florida carriers in 2015 than in 2014, according to data collected by Trading Risk.
  • AlphaCat and Endurance stood out for increasing their gross catastrophe premiums year-on-year in the first quarter as most of the cat specialists tracked by Trading Risk reduced their premium base.
  • Collateralised reinsurers and ILS investors received $654mn in ceded premiums from the top 10 Florida carriers in 2015, a rise of 12 percent from $586mn the previous year, according to data collected by Trading Risk.
  • Fronting boosts Allianz; Lloyd's index in progress; Securis SPS drives Novae top-line growth; Kiskadee premiums up 37% in Q1; Hannover Re expands April cat portfolio; Athene set to IPO; TigerRisk opens ILS trading desk; ART signs 10-year wind risk swap
  • One of the eternal unanswered questions in the reinsurance market is "what will happen next?"
  • Lancashire reported a drop in profit commission from its Kinesis sidecar in the first quarter to $1.8mn, compared to $5.1mn in Q1 2015
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