Lyno Capital logo Lyno Capital
REINSURANCE CAPITAL

Free the Tail. Fund the Future.

Lyno Capital turns casualty tail reserves into deployable capital — disciplined, recurring reinsurance capacity for (re)insurers and their capital partners.

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WHO WE ARE

Innovative capacity, built for the long tail

Lyno Capital, a Cayman-based SPC1, provides reinsurance transactions that turn tail reserves into deployable capital. Founded by a team that pioneered recurring legacy transactions and developed an award-winning AI platform.

Backed by (re)insurance-focused asset manager Obra Capital, we combine institutional-grade capital with disciplined, data-led underwriting to deliver dependable capacity.

50+
Completed deals by our management team
$3.5B
Liabilities assumed²
30+ yrs
Average (re)insurance experience across our team
¹ Company is in the process of applying for a Class B(iii) insurer license under the Insurance Act, 2010 (as revised). No reinsurance will be offered, quoted or bound until the license is granted.
² Casualty liabilities assumed by the management team in the last 10 years.
MARKET OPPORTUNITY

A capital surge meets a duration challenge

~5x growth
Casualty ILS capital deployed, from $1bn (2022) to $5bn+ (2025) as the asset class emerges.
10–20+ yrs
Typical casualty liability duration — versus ~10 years for PE funds and ~2 years for ILS / cat-bond terms.
$8.1bn
Assets under management at Obra Capital, our institutional capital partner.

Structural demand

CHALLENGE
Rise of cedant demand for long-term solutions; capital supporting Collateralized Re and Casualty ILS has liquidity needs not being met.
SOLUTION
Customized recurring capacity, direct to (re)insurers or in conjunction with Collateralized Re and Casualty ILS.

Liability duration

CHALLENGE
Casualty tails outlast the investment horizon of most capital sources.
SOLUTION
Customizing the investment horizon matches cedant needs with investor liquidity requirements, cuts tail risk, and crystalizes results.

Alignment of interests

CHALLENGE
Cedants need counterparties whose economics stay aligned over the full tail.
SOLUTION
Transparent day-one pricing methodology and mutually beneficial terms with a trusted partner.
SOLUTIONS

Optimizing the cedant's capital stack

What partnering with Lyno solves for.

Recycle capital

Release the capital locked in your reserve tail and redeploy it into active underwriting.

Accretive economics

Accretive to earnings, with breakeven typically just after year 2 and lower exposures as an additional benefit.

Financing, not leverage

A dependable source of capital that fuels growth without adding leverage or diluting equity.

Enhanced stability

Cede tail risk to steady earnings, firm up reserves, and strengthen your standing with rating agencies and regulators.

Duration & capacity

Solve the duration challenge and unlock extra capacity as (re)insurance markets shift.
HOW WE STRUCTURE

Built for alignment, priced with discipline

TRANSACTION TYPES

— Loss Portfolio Transfer (LPT)
— Adverse Development Cover (ADC)
— Novation
— Retroactive quota share

CHARACTERISTICS

— Partnership through recurring transactions
— Known pricing methodology at inception
— Risk premium & margin to reflect underlying risk
— Strong & appropriate collateralization
— Capital efficiency — eliminate drag
LEADERSHIP

Seasoned leadership across the cycle

Eric Haller, Chief Executive Officer of Lyno Capital

Eric Haller

Chief Executive Officer
25+ yrs (re)insurance leadership experience focused on underwriting and innovation.
Louis Gariepy, Chief Actuarial Officer of Lyno Capital

Louis Gariepy

Chief Actuarial Officer
Actuary with 35+ yrs of (re)insurance experience in the US, Bermuda and Europe.
Matthew Charleson, Chief Operating Officer of Lyno Capital

Matthew Charleson

Chief Operating Officer
20+ yrs strong operational experience in capital markets and (re)insurance industries.
Pierre Samson, Chief Risk Officer of Lyno Capital

Pierre Samson

Chief Risk Officer
35+ yrs enterprise risk, actuarial and reserving governance leadership.
BACKED BY OBRA CAPITAL

A vertically integrated investment platform

Obra Capital logo

Obra is a specialized alternative asset manager providing investment products and solutions across multi-sector credit, institutional credit, asset-based finance, real estate credit, insurance special situations and life insurance — with capabilities in investing, originating, structuring and servicing.

$8.1bn
AUM
2009
Year founded
15+
Year track record
140+
Employees
CONTACT

Let's talk about your capacity needs

Whether you're a cedant exploring recurring capacity or a capital partner interested in the strategy, we'd like to hear from you.

info@lynocapital.com