MultiStrat arranges $205m casualty ILS transaction

MultiStrat, an underwriter of reinsurance opportunities for asset managers and institutional investors, has worked with investor Vida Capital to complete a $205 million casualty ILS reinsurance transaction covering prospective and retrospective general liability risks.

The coverage was written by a protected cell of Garden Insurance Company of Vermont, MultiStrat’s affiliated entity. MultiStrat’s capital advisory team, MultiStrat Advisors, and its affiliate, the Annapolis Consulting Group, were instrumental in assisting MultiStrat’s underwriting team in completing the transaction.

Vida Capital, a $4.5+ billion-dollar alternative asset management platform specialising in non-correlated investment strategies, completed the investment in a reinsurance structure and designed the investment strategy for the associated reinsurance trust account.

Bob Forness, CEO of MultiStrat Group, said: “MultiStrat’s largest casualty ILS transaction to date was a real milestone. We were able to combine retrospective and prospective exposures into a single casualty ILS structure designed to suit both the reinsured’s unique requirements and Vida Capital’s risk appetite. This deal demonstrates MultiStrat’s leading and growing expertise in placing broader casualty reinsurance risks in insurance linked security vehicles.”

William Tice, senior managing director of Vida Capital, added: “We are very excited to have worked with MultiStrat on this transaction. The deal highlights Vida Capital’s ability to provide creative and nimble solutions in support of bespoke investment opportunities.”

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