CCR Re renews reinsurance sidecar 157 Re despite market headwinds

CCR Re has renewed its landmark reinsurance sidecar 157 Re 24 — for the sixth consecutive year — despite yet another tight retrocession market.

The renewal of the sidecar follows an investment from 157 Re’s long-standing partner Boussard & Gavaudan Investment Management (BGIM).

The sidecar vehicle was first launched in March 2019. CCR stated that access to the insurance-linked securities (ILS) market is an important part of CCR Re’s retrocession strategy.

For its sixth sidecar vintage 157 Re 24, CCR Re leveraged the expertise of structuring and placement agent Gallagher Securities (acting as structuring and placement agent), France Titrisation (acting as management company), BNP Paribas Securities (acting as custodian bank) and the legal advice of Linklaters.

Mathieu Halm, board secretary and chief retrocession & alternative capital officer, said: “This sixth generation is testimony of our commitment to an alignment of interest with those of our investors as part of a long-term partnership.”

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