AuM data
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The carrier posted a small loss in the first half of 2021, the agency noted.
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The investor has significantly cut back its allocation over the past few years.
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One market participant said the strategy was $250mn in size, but it is not known how much business it has so far written.
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Brooks had been in his post for almost two years and joined AlphaCat in 2011.
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The deal covers the reinsurer’s worldwide cat XL book, as Scor plans to ramp up P&C growth.
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Kevin O’Donnell also said he saw social inflation as more of a concern for the industry than climate change.
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The Credit Suisse-backed firm produced a small profit in the first quarter of 2021, the ratings agency said.
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Matt Berdoff, Jason Braunstein and Wendy Wong-Tsang have joined the firm’s partnership.
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Despite the Q2 increase, the Everest Re sidecar’s written premium for the first half was down 2% to $155.3mn.
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The 2017 start-up has previously focussed on quota share investing.
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The reinsurer had previously signalled it would grow its net reinsurance portfolio after deploying less third-party capital.
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Fee income – an area of patchy disclosure by reinsurers – was generally stable amongst early reporters.