Two new companies have been registered in Bermuda that use the name Radix Re, Artemis has learned, a non-life underwriting entity and a holding company structure.We suspect these entities may be for Radix Insurance Linked Strategies (Radix ILS), the Bermuda-based third-party capital manager and reinsurance capacity deployment company.Recall that,  with a plan to adopt a tech-focused digital-first approach to helping partner capital access the returns of insurance and reinsurance business, through structuring of direct investment opportunities into insurance-linked risks and with a focus on optimising capital allocations.The company then , its first underwriting entity for Radix ILS and that was registered as a collateralized insurer class company in Bermuda.

Now, we’ve learned of two new company registrations in Bermuda that we presume (from their names) are likely owned by, or have been established for, Radix ILS.First, Radix Re Ltd., which has been registered as an exempted limited company in Bermuda.We understand Radix Re Ltd.

will be focused on non-life insurance and reinsurance business, but at this stage we do not know what type of regulatory license it will adopt.In Bermuda, companies are typically registered and then the licensing with the regulator takes place afterwards.So Radix Re Ltd.

could be some type of special purpose insurer, or another collateralized insurer class of company, or even a different class of reinsurance underwriting entity.In addition, a company named Radix Re Holdings Ltd.has also been registered in Bermuda in recent days.

Radix Re Holdings Ltd.has been established to become a holding company for financial and insurance activities, so presumably an entity to manage the Radix Re Ltd.underwriting operation.

As said, we cannot confirm these belong to Radix ILS, as we have not seen any details of the owners of these new companies and the company has not responded to our enquiries as of the time of publishing.But, given the names of the new entities, it seems likely they belong to the relatively new reinsurance risk capital manager..All of our Artemis Live insurance-linked securities (ILS), catastrophe bonds and reinsurance can be accessed online.

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