White Mountains renews reinsurance sidecar
- May 30, 2025
- Posted by: Web workers
- Category: Finance
White Mountains Insurance Group Ltd. said Thursday its specialty property/casualty reinsurance and insurance subsidiary Ark Insurance Holdings Ltd. has renewed Outrigger Re Ltd., a $250 million reinsurance sidecar, to provide collateralized reinsurance capacity for business incepted during 2024.
Outrigger has again entered into a quota share with Ark to provide collateralized reinsurance protection on a portion of Ark Bermuda’s global property/catastrophe portfolio beginning Jan. 1, White Mountains said in a statement.
About $130 million of the $250 million capital for Jan. 1 came from White Mountains and the balance from new and continuing third-party investors.
Bermuda-domiciled White Mountains owns 72% of Ark on a basic shares outstanding basis. Outrigger Re was formed last December.
