Oxbridge Re expects sidecar support for wildfire & Michael losses in Q4

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ORIGINAL PUBLICATION HERE Cayman Islands based reinsurance firm Oxbridge Re Ltd. said that its fully collateralized reinsurance sidecar vehicle Oxbridge Re NS Ltd. will support the firms losses from both hurricane Michael and the California wildfires in Q4 2018. Oxbridge Re said that it now expects to suffer a $6 million impact from catastrophe losses […]

Sidecar diversifies revenue streams for Oxbridge Re: CEO Madhu Share

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ORIGINAL PUBLICATION HERE The Chairman and Chief Executive Officer (CEO) of collateralised reinsurer Oxbridge Re Ltd., Jay Madhu, explained that the firm’s recently launched sidecar vehicle diversifies its revenue streams and risk. Oxbridge Re announced plans for its sidecar vehicle, Oxbridge Re NS Ltd., in late 2017 after registering the company in the Cayman Islands in […]

Peak Re looks to expand use of ILS after success of Lion Rock Re

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ORIGINAL PUBLICATION HERE The launch of the Lion Rock Re Ltd. sidecar by Hong Kong domiciled Peak Reinsurance Company Limited (Peak Re) was well received by the ILS investor community and the company is looking forward to expanding its relationship with the capital markets in the future. Lion Rock Re Ltd., a recently established Bermuda […]

NCM Re UK sidecar transaction renews at slightly larger $77m for Neon

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ORIGINAL PUBLICATION HERE Lloyd’s and Bermuda insurance and reinsurance company Neon Underwriting has successfully renewed its UK insurance-linked securities transaction, which is akin to a sidecar, with a slightly enlarged $77 million issuance of notes from the NCM Re (UK PCC) Ltd vehicle. Last year, Neon was the first to register and receive approval from […]

Major UNL retro programs hit market at relatively flat pricing & terms

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ORIGINAL PUBLICATION HERE For all the talk of a capacity crunch in retrocessional reinsurance markets, resulting in a renewal that is seen to be in disarray and set to be very late, we’re told that some major UNL retrocession programs have hit the market offering relatively flat pricing and terms in recent days. At the […]

PGGM in $20m Leo Re 2019 private sidecar transaction with Munich Re

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ORIGINAL PUBLICATION HERE Dutch pension fund manager PGGM has completed its first issuance of notes from its Leo Re Ltd. collateralised reinsurance sidecar for 2019, with a $20 million Series 2019-1 Class A tranche of notes issued which feature property catastrophe risk sourced from Munich Re. The Leo Re Ltd. series of private sidecar transactions […]

Credit Suisse ILS backed reinsurers affirmed, but catastrophes take toll

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ORIGINAL PUBLICATION HERE Both of the rated reinsurance vehicles that are managed by and backed by capital from the Credit Suisse Insurance Linked Strategies Ltd. team have had their ratings affirmed by A.M. Best, despite suffering losses from the catastrophe activity through 2018. Kelvin Re, a rated reinsurance company backed by investments from the Abu […]

Usual suspects look to fill fronting gap left by acquisition of TMR

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ORIGINAL PUBLICATION HERE The gap in terms of fronting services for collateralised and ILS markets left by the acquisition of Tokio Millennium Re by Bermudian reinsurer RenaissanceRe is being filled we’re told, as the usual suspects look to take on any of that business they find attractive. We’ve been told that a number of players […]

ILW pricing stays relatively flat since recent catastrophe losses

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ORIGINAL PUBLICATION HERE Pricing for industry-loss warranty (ILW) backed retrocessional reinsurance protection has not shifted significantly since the aggregation of recent catastrophe loss events, with brokers still pitching capacity at the same rates as prior to the wildfires, sources have told us. Since the California wildfires are now assumed to be a $15 billion plus […]

One sidecar pulled on lack of investor appetite, others questioned on terms

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ORIGINAL PUBLICATION HERE One collateralised reinsurance sidecar transaction that had been lined up for the January 2019 renewals has been pulled due to a lack of appetite from investors, while at the same time other sidecar arrangements are now being questioned for changes being proposed to their terms, Artemis understands. It’s shaping up to be […]