Annapurna Re aims to deploy $600m in third-party capital over three years to bolster Everest’s global casualty reinsurance portfolio.
Everest Group and Stone Point Insurance Solutions have formed Annapurna Re, a Bermuda-based casualty reinsurance sidecar targeting $600m in third-party capital. The multi-year vehicle will channel dedicated capacity into Everest’s global casualty and specialty reinsurance operations.
The sidecar expands Everest’s existing third-party capital platform, which includes the Mt. Logan structure. Stone Point-managed funds will serve as anchor investors, with Stone Point Credit acting as the exclusive investment manager.
Everest CEO Jim Williamson stated the partnership enhances underwriting excellence and capital flexibility, positioning the firm to pursue attractive opportunities in the casualty reinsurance market.