Ark forms Outrigger Re as property catastrophe sidecar

The new sidecar has received initial investor capital of $250m, with $205m provided by White Mountains

Ark Insurance Holdings, the specialty re/insurance unit of Bermuda-domiciled White Mountains Insurance Group, has sponsored the formation of Outrigger Re Ltd as a reinsurance sidecar to provide collateralised reinsurance capacity for its global property catastrophe portfolio.