MS Amlin has renewed its Phoenix Re sidecar for the fifth consecutive year, increasing the available collateralised capacity to more than US$$90m.

The renewal of Phoenix Re 3 marks the continued expansion of MS Amlin’s Singapore-based sidecar, with the latest issuance representing an uplift of 12.5% from 2024.

William Ho, CEO of MS Amlin Asia-Pacific, commented: “The successful renewal of our multiple Phoenix Re investment vehicles – our fifth in the series – demonstrates the growing appetite among investors for Asian catastrophe risks. Since launching Phoenix Re five years ago, we have more than doubled the available capacity, enabling us to better support local cedents and help address the region’s substantial protection gap.

“Our Phoenix strategy has absorbed a number of regional loss events, including floods, earthquakes and super typhoons, while supporting clients and delivering consistent returns. Last year, Phoenix Re achieved returns more than 11.5%, reflecting our disciplined approach to underwriting and deep understanding of Asian risks."

Ho believes that Asia is well-positioned to emerge as a global hub for insurance-linked securities.

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