Sidecars
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The sidecar was launched today by the Bermudian reinsurer and investment firm Carlyle. -
The capital will provide retro cover for life-focused reinsurer Fortitude Re.
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The Bermuda reinsurer has been active in ILS since launching in 2007.
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The sidecar will support five programs providing specialty frequency coverages.
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Sources said that the carrier has held preliminary talks with private debt investors.
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The private ILS segment took losses from LA wildfires and Mid-West severe convective storms in H1 2025.
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Fleming’s attempt follows those of other legacy carriers that have had recent successes raising capital.
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Ryan Alternative Capital Re was launched in partnership with Axis Capital.
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The ILS play will make the business more capital efficient under new owner Sixth Street.
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The vehicle will support Ascot’s casualty business in the US and Bermuda.
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The PRA will also have to report on turnaround time for new approvals against 10-day and six-week targets.
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The firm acted as the front for Trouvaille Re, the E&S property sidecar for MGA AmRisc.
