Calidris Investment Partners, a Bermuda-based investment management firm specializing in the insurance industry, has announced its entry into the market after successfully completing its first insurance sidecar transaction and expanding its senior leadership team.
The company is backed by Redbird Capital Partners as lead investor in launching George Street Re, a casualty reinsurance sidecar sponsored by global insurer QBE Re.
The transaction, valued at more than $550 million, provides Calidris investors with a strategic entry point into QBE Re’s global casualty reinsurance portfolio.
The completion of the insurance Sidecar transaction is an important milestone for Calidris, which was founded in early 2025 by Daniel Miller and Philippe Trahan.
The company said it underscores its execution capabilities and advances the company’s mission to provide institutional investors with differentiated, lower-volatility property and casualty insurance risks.
“Our entry into the market reflects strong operating fundamentals and the confidence of high-quality institutional partners,” said Daniel Miller, co-founder and co-CEO of Calidris. “With the successful completion of our first transaction, we are focused on building on our momentum by building attractive, diverse and scalable partnerships to meet the needs of investors and insurance counterparties.”
To support the continued growth of the Calidris platform and the rollout of strategic initiatives, the company also announced several key leadership appointments.
Marcus Foley, a 20-year industry veteran, has been appointed Director of Quantitative Strategy. He previously held executive positions at Aspen, Argo and Somers Re Group, where he was responsible for risk and capital management, balance sheet optimization and mergers and acquisitions.
He will oversee the development and execution of Calidris’ quantitative strategic roadmap, aligning the analytical framework with company-level growth, return and risk objectives.
Natasha Osborne joins Calidris as Director of Finance and Operations. She has nearly 15 years of experience, most recently at Hiscox Re & ILS, where she focused on third-party capital operations and financial reporting.
Osborne will be tasked with driving operational excellence and financial oversight as the company grows.
In addition, Calidris has appointed Andrew Brooks, former chief executive of Ascot Group, deputy chairman and council member of Lloyd’s of London, as a non-executive director to its board.
The move is designed to strengthen the company’s governance and executive leadership team with diverse industry expertise and market insights to advance the company’s long-term strategy.
Philippe Trahan, co-founder and co-CEO of Calidris, said: “We are building a differentiated investment platform centered on alignment and long-term partnerships. The depth of expertise we have added to our leadership team and board of directors complements our disciplined approach, bringing the skills and insights needed to support and accelerate the growth of our business.”
“Daniel and Philippe have an impressive track record as insurance investors and are excellent structuring experts, providing a solid foundation for Calidris’ business model,” added Robert Klein, president of RedBird Capital Partners. “Now, with the transaction successfully completed, a highly qualified leadership team in place, and strong investor relationships, Calidris is well-positioned in the market to capitalize on the growing interest in the property and casualty (re)insurance space.”
