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The sidecar was launched today by the Bermudian reinsurer and investment firm Carlyle.
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The capital will provide retro cover for life-focused reinsurer Fortitude Re.
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Investor interest is warming up following a colder spell over the past several years.
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ILS has been a driver of innovation in reinsurance, Convergence 2025 attendees heard Wednesday.
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The carrier will continue to write assumed retro in Bermuda.
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Key topics include private ILS growth prospects and the longevity of longtail interest.
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A cat-focused vehicle is “the missing piece” of Hannover Re’s ILS offerings, said Silke Sehm.
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Founder and CEO of Nascent Andre Perez will join Sephira’s board of directors.
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Improved performance and growing investment returns played a role in the upgrade.
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Winds have strengthened to 80 mph, and the hurricane is expected to intensify further over the next 48 hours.
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Bellal Rahman joins from Catalina Life Re, where he was head of finance for two years.
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Marlon Williams will focus on the placement of reinsurance and retro business.