Everest and Stone Point Launch Casualty Sidecar Annapurna Re with $600 Million in Third-Party Capital

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โดย Business Wire·Read original
Summary · why it matters

Everest Group and Stone Point Insurance Solutions have launched Annapurna Re Ltd., a Bermuda-based casualty reinsurance sidecar. Annapurna is expected to deploy approximately $600 million of third-party capital to support Everest's global casualty and specialty reinsurance portfolios over a three-year underwriting period. Funds managed by Stone Point will serve as the anchor investors in this multi-year vehicle, with Stone Point Credit acting as exclusive investment manager. The partnership combines Everest's underwriting expertise with Stone Point's insurance-focused investment strategies and builds on Everest's existing third-party capital capabilities, including its Mt. Logan platform.

Impact on stocks 1

Climate Adaptation & Water▲ · 1 stocks
Everest Group Ltd
EG
▲ PositiveCapitalrelevance

Everest launches a $600M casualty sidecar with Stone Point, raising third-party capital to support its reinsurance portfolios.

Off-coverage companies 2

Annapurna Re Ltd.Private▲ Positive
Capitalrelevance

Annapurna Re is the newly formed sidecar vehicle that will deploy $600M of third-party capital.

Stone Point CapitalPrivate▲ Positive
Capitalrelevance

Stone Point manages funds that anchor the sidecar and acts as exclusive investment manager.

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