Sidecars
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The Bermuda sidecar was established last year to support property cat underwriting in a hard market. -
R&Q launched Bermuda-based reinsurance sidecar Gibson Re with $300mn of capital in September 2021.
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The aim was to provide proof of concept for the securitised tokens.
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The reinsurance sidecar was formed in Q4 to provide collateralised reinsurance capacity for Ark's global cat portfolio.
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The reinsurance recoverables from Lorenz investors were up by 56% to $921mn in the 2022 year.
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The MGA is seeking to double premium from $1.5bn over the next four to five years.
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The WR Berkley vehicle takes a 30% share of its reinsurance placements.
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The sidecar takes a 25% quota share of CCR’s worldwide property cat book.
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The vehicle was upsized by 20% from 2022.
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The sidecar has stepped down in size over the past three years.
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The full size of the sidecar for 2023 will be known when Class B notes are issued in January.
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FGF is a reinsurance and asset management holding company focused on collateralised and loss capped reinsurance and merchant banking.
Most Recent
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Allstate reports $551mn cat loss for August
21 September 2023 -
Brown & Brown acquires Occam from HSCM
20 September 2023 -
Lloyd’s to extend cat exposure monitoring to non-peak perils
20 September 2023