Laurent Rousseau

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103 appearances 1 recordings 1 series first heard Jul 2026 last heard 20 Jul

Laurent Rousseau’s voice in public audio — every appearance, attributed to the second.

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Critical thinking · Trends and Opportunities in (Re)insurance · 20 Jul 2026 podcast

And sidecars is quite a nice image.

It says what it is.

It's another SPV, it's a vehicle that is capitalized by exactly the same way as

Catborn issues notes to investors.

But those investors would pick up the claims of an insurance company from zero, from the ground up.

And as opposed to the claims being paid, as we call it, in an excess of loss, i.e., Catborn pays the claim when there is an excess of a certain trigger.

A sidecar would really come and pick up the claims in a proportional way.

alongside the insurance company.

And so let me take an example.

If an insurance company decides to create a sidecar that would pick up 20% of the claims, it would receive 20% of the premiums and would really be sitting pari passe with the insurance company.

So those sidecars essentially enable

Through simple securitization principles and vehicles, they enable financial investors to take risks alongside an insurance company and receive the same kind of premiums and claims exposures.

It's just a very uh complementary way.

It requires a bit more understanding of the insurance business, and there is a lot more frequency and flow of premiums and claims.

But essentially it's a different risk return profile than a CAD bond with similar uh securitization principles.

Okay.

So initially and on CAD bonds in particular, the the type of investors would be those seeking volatility.

In a way that is non-correlated to financial markets.

So the volatility comes from this high severity, low frequency events, hurricane uh quakes, uh that would happen in extreme circumstances.

And when they would happen, more often than not, they would not be correlated with financial markets.

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