MultiStrat completes $205m casualty ILS deal

  • New director: Multistrat has appointed Raymond O'Neill to its board

    New director: Multistrat has appointed Raymond O'Neill to its board


Bermudian-based MultiStrat has completed a $205 million casualty ILS reinsurance transaction covering prospective and retrospective general liability risks.

The coverage was written by a protected cell of Garden Insurance Company of Vermont, MultiStratís affiliated entity.

MultiStratís capital advisory team, MultiStrat Advisors Inc, and its affiliate, the Annapolis Consulting Group, Inc, were instrumental in assisting MultiStratís underwriting team in completing the transaction.

Vida Capital completed the investment in a reinsurance structure and designed the investment strategy for the associated reinsurance trust account.

Bob Forness, CEO of MultiStrat Group, said: ďMultiStratís largest casualty ILS transaction to date was a real milestone. We were able to combine retrospective and prospective exposures into a single casualty ILS structure designed to suit both the reinsuredís unique requirements and Vida Capitalís risk appetite.

ďThis deal demonstrates MultiStratís leading and growing expertise in placing broader casualty reinsurance risks in insurance-linked security vehicles.Ē

MultiStrat underwrites reinsurance opportunities for asset managers and institutional investors through segregated vehicles and independent reinsurers.

William Tice, senior managing director of Vida Capital, said: ďWe are very excited to have worked with MultiStrat on this transaction. The deal highlights Vida Capitalís ability to provide creative and nimble solutions in support of bespoke investment opportunities.Ē

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Published Feb 6, 2020 at 6:05 pm (Updated Feb 6, 2020 at 6:05 pm)

MultiStrat completes $205m casualty ILS deal

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