Elementum Advisors
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He will be based in the Bermuda office and work to develop the underwriting associates. -
The latest Insider ILS Outstanding Contributor for the year said 2011 was an under-appreciated turning point for the market.
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DeCaro is one of the cohort of pioneering ILS managers.
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The value of White Mountains’ stake in the ILS manager grew last year despite the firm shrinking its holding.
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The fund’s allocation to ILS decreased for the first time in three years.
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The Elementum executive told Trading Risk New York that “appropriate returns” over time were the key to a sustainable ILS market.
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The current year performance marks an uplift compared to a tough 2022, in which Elementum delivered a loss to White Mountains of 4.6%.
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All five new partners will retain their existing roles alongside their new responsibilities as partners.
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The insurance conglomerate initially committed $50mn to Elementum funds.
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The headline market drop in AuM belies a more lively growth story for funds operating outside of the ILS major league.
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Shabnam Ahmed joined the firm in October 2020 to build up its portfolio and train junior underwriters.
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The market needs to improve on contract certainty to manage pricing cycles better, Rettino told Trading Risk New York 2022.
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