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AmRisc, LLC, the coastal commercial property specialist subsidiary of Truist Insurance Holdings, raised $325,000,000 of capacity to create a collateralized sidecar called Trouvaille Re Ltd., supported by alternative investment firm Stone Point.
Trouvaille Re Ltd., a Bermuda-based restricted special purpose insurance (SPI), was formed to enable AmRisc crowd in third party capital to support the portfolio of commercial property and coastal excess lines insurance.
Trouvaille Re Ltd.’s sidecar vehicle, which will be available on 1st April 2024, will provide AmRisc with collateralized reinsurance.
In total, $325 million of new underwriting capital was raised via this Trouvaille Re reinsurance sidecar launch for AmRisc’s E&S portfolio.
The capital was raised by a combination of collateralized capital sourced from a diversified group of investors and capacity provided by the transaction’s fronting carrier, MS Transverse.
AmRisc writes over $2 billion in E&S gross premiums annually on behalf of its capacity providers, as well as more than $600 million of…
