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Nascent Re completes two more preferred share ILS issuances
The Quinton and Stevenage segregated accounts each raised $20 million, with maturities in December 2026 after being privately placed and listed on the Bermuda Stock Exchange.
Nascent Re Ltd., a licensed reinsurance transformer operated by Bermuda-based Nascent Group, has completed two additional series of private insurance-linked securities using preferred share structures. The vehicle issued $20 million each for segregated accounts named Quinton and Stevenage, bringing the total seen to four preferred-share issuances from Nascent Re to date. The earlier issuances referenced by Artemis include an OFS Re Series 2026-001 preferred share tranche of €10 million announced in March, and a $23.5 million preferred share issuance through a segregated account called Telford in August.
According to the Artemis coverage, the $20 million Quinton preferred shares are due to mature on December 31, 2026, and the $20 million Stevenage preferred shares are due to mature on December 15, 2026. Artemis notes the timing could indicate collateralized reinsurance or retrocession arrangements linked to the wind season.
Artemis also reports that the full $40 million from the Quinton and Stevenage segregated accounts was privately placed with qualifying investors and has since been listed on the Bermuda Stock Exchange (BSX) as insurance-linked securities. As with prior issuances, the outlet says the exact structure is not disclosed, though preferred shares rather than principal-at-risk notes could point to a quota share reinsurance or retrocession design.