AmRisc LLC, a subsidiary of Truist Insurance Holdings Inc., and Stone Point Capital LLC said Friday that AmRisc has formed Trouvaille Re Ltd., an insurance sidecar that will provide $325 million of collateralized reinsurance capacity for AmRisc’s coastal commercial excess and surplus property insurance portfolio beginning on April 1.
The $325 million of new underwriting capital comes from a group of investors and capacity from the transaction’s fronting carrier, MS Transverse Insurance Group LLC, AmRisc said in a statement.
Truist Financial in February agreed to sell the remaining stake in its insurance brokerage business to an investor group led by private-equity firm Stone Point Capital LLC in a deal valued at $15.5 billion.
