AmRisc renews Trouvaille Re coastal E&S property sidecar at enlarged $580m

AmRisc, LLC, a coastal commercial property insurance specialist subsidiary of CRC Group, has renewed its E&S property focused collateralized reinsurance sidecar named Trouvaille Re Ltd. at an upsized $580 million for the coming year, with alternative investment firm Stone Point again in support, as well as fronting specialist MS Transverse.

A year ago, AmRisc raised $325 million of capacity for its debut coastal excess and surplus (E&S) lines commercial property insurance collateralized reinsurance sidecar issuance under the Trouvaille Re Ltd. vehicle, with Stone Point a key backer.

Trouvaille Re Ltd. is a Bermuda based restricted special purpose insurer (SPI), formed to enable AmRisc to crowd in third-party capital to provide reinsurance support to its coastal excess and surplus lines commercial property insurance portfolio.

The renewal, dubbed Trouvaille II, came into effect on April 1st 2025 and saw AmRisc successfully scale up the amount of collateralized third-party reinsurance capacity the sidecar will provide it for the coming year, with $580 million raised.

For 2025, the $580 million of underwriting capital that Trouvaille Re will provide for AmRisc has been sourced from a diversified group of institutional investors, as well as capacity from the transaction’s fronting carrier, MS Transverse.

“We are pleased to have grown Trouvaille Re with our investor capacity partners, allowing us to continue to serve the coastal commercial property E&S market that we have supported for more than 25 years,” said Brian Reid, CEO of AmRisc.

“The growth and support from investors in Trouvaille II reaffirms our belief that this partnership can continue for the long term. Investors have come to understand AmRisc’s underwriting approach and trust that we will continue to write and manage risk responsibly on their behalf,” said Laura Beckmann, AmRisc’s President and Chief Operating Officer.

“Trouvaille II follows on the success of the initial capital raise for Trouvaille Re Ltd. We are pleased that AmRisc has been able to grow with key investor partners to continue to serve clients in its targeted markets,” said Ben Rubin, Head of Stone Point Capital Insurance Solutions.

“MS Transverse is extremely pleased to renew our support of Trouvaille Re alongside our distinguished partners, AmRisc and Stone Point. We look forward to Trouvaille’s continued growth and success.” said John Fitzgerald, President of MS Transverse Insurance Group.

It’s good to see AmRisc growing its Trouvaille reinsurance sidecar so significantly, as this structure now provides an even more meaningful third-party capital supported additional underwriting balance-sheet to fuel the companies continued growth.

At $580 million this is a significant size for a third-party capitalised reinsurance sidecar supporting an insurer, definitely one of the largest in the market.

Howden Capital Markets & Advisory was the structuring and placement agent for this reinsurance sidecar transaction. J.P. Morgan Securities LLC also acted as a placement agent, while Willkie Farr & Gallagher LLP provided legal counsel.

Find details of numerous reinsurance sidecar investments and transactions in our directory of collateralized reinsurance sidecars transactions.