Arundo Re has successfully issued the 157 Re 26 sidecar, marking the eighth issuance under this platform.
This move is in line with the company's strategy of diversifying sources of capital. The compartmentalised mutual securitisation fund allows Arundo Re to rely on the structure and operation of its 157 Re platform, the company said in a statement.
This transaction benefitted from the support of Boussard & Gavaudan Investment Management, the long-standing partner of the 157 Re platform.
The sidecar also had the support of new investors, including Mutuelle Centrale de Réassurance. Other major players include Gallagher Securities for structuring and placement, GC Securities for placement, France Titrisation for management, BNP Paribas Securities as custodian, as well as the Linklaters firm for legal advice.
Said Arundo Re Board Secretary and Chief Retrocession and Alternative Capital Officer Mathieu Halm, “157 Re is a great opportunity for our investors to support Arundo Re in its development. This eighth issuance testifies to a shared ambition to build a quality partnership.”