SSREF - AXIS Ceded Nearly $600m Of Premium To Third-Party Capital Partners In 2018
Bermudian insurance and reinsurance specialist AXIS Capital Holdings Limited significantly increased its activities with third-party investors in 2018, doubling its premiums ceded through ILS type arrangements to so-called strategic capital partners to nearly $600 million.
That doesn't include another just over $183 million ceded to the re/insurers Harrington Re vehicle, AXIS's total-return style reinsurance firm that it set up in partnership with asset manager Blackstone, which is also third-party investor backed in the main.
So in total, AXIS Capital ceded a significant 25% of its overall roughly $3.11 billion of reinsurance premiums underwritten to investors,