Ryan Specialty (RYAN) said Friday that it has launched a new collateralized reinsurance vehicle called Ryan Alternative Capital Re, via a strategic trading relationship with AXIS Capital (AXS).
The new reinsurance vehicle has raised about $400 million in committed capital from funds managed by Flexpoint Ford and Sixth Street, the company said.
Ryan Specialty further said that new reinsurance vehicle will provide the company's delegated authority underwriting division, Ryan Specialty Underwriting Managers, an anticipated $900 million in multi-year premium capacity.