White Mountains leads $250M reinsurance sidecar Outrigger Re for Ark

WHITE MOUNTAINS INSURANCE GROUP LTD

Outrigger Re Ltd. formed as a Bermuda special purpose insurer with $250M total capital.
White Mountains contributes $205M; Aquiline Capital and Enstar (ESGR) join as investors.
Sidecar provides quota-share reinsurance on Ark Bermuda's global property catastrophe portfolio.
Coverage effective January 1, 2023, capitalizing on hard property cat reinsurance market.
TigerRisk acted as structuring agent; Sidley Austin and Conyers Dill provided legal counsel.

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