QBE Re enters sidecar market with George Street launch

QBE Re, the reinsurance segment of QBE Group, has launched its casualty sidecar, George Street Re, in a transaction totalling more than $550m (€471.27m). The move marks QBE’s foray into the sidecar business. This structure provides fully collateralised quota share reinsurance and has been set up to reinsure a part of QBE Re’s global casualty portfolio. George Street receives backing from Culpeper Capital Partners, Calidris Investment Partners and specialty reinsurer Compre. The arrangement is intended ...