THE INSURER: Vesttoo commits to deploy $1bn in reinsurance capacity to Clear Blue portfolio
Risk transfer platform Vesttoo has partnered with Clear Blue to deploy $1bn in collateralised capacity to the fronting carrier’s P&C portfolio over the next year in a deal that provides capital markets investors access to diversified risks and MGAs additional reinsurance capacity, Program Manager can reveal.
The partnership – initially agreed for 12 months – formalises a long-standing relationship between Tel Aviv-based Vesttoo and US carrier Clear Blue, which was an early adopter of the platform.
The Jerome Breslin-led fronting carrier has already deployed capital markets capacity through Vesttoo on a quota share basis, as well as aggregate stop loss, supporting a number of its programs.
Clear Blue’s current portfolio of programs is heavily weighted towards commercial auto and construction, including general liability.
