21 January 2021Insurance

PartnerRe sets up retro & specialty vehicle amid 'favourable' market conditions

Bermudian reinsurer  PartnerRe has established a retrocession and specialty reinsurance vehicle, called Laplace-C, in a move intended to take advantage of the favorable market conditions in these markets.

The newly-created vehicle has secured an investment from US-based private equity firm Olympus Partners.

Olympus manages funds in excess of $8.5 billion mainly on behalf of corporate pension funds, endowment funds and state-sponsored retirement programmes.

The company sees opportunities in the short-tail specialty and retrocessional insurance lines of business in the current favourable market conditions.

"We have been actively looking at opportunities to invest in the current favorable reinsurance cycle and believe the newly created Laplace-C vehicle represents a differentiated value proposition combining superior risk-adjusted returns with established market access to a broadly diversified book of business," said Olympus' Matt Boyd.

"We are excited to partner with PartnerRe, one of the leading reinsurers in the world with a long history of exceptional underwriting returns," he added.

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Insurance
21 January 2021   The tool will enable PartnerRe’s life reinsurance clients to automate their risk underwriting.
Insurance
19 November 2020   The reinsurer, however, posted a decline in its Q3 profits despite investment gains.
Insurance
3 March 2020   The company's net income was $890m compared with a loss of $132m in 2018.