Elementum Advisors
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Returns from cat risk investments stood at 20.1% for the year to 30 June 2025. -
Samild held multiple roles including head of alternatives at the Future Fund.
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The target allocation to Munich Re, Elementum and the run-off AlphaCat funds fell in the year to 30 June 2025.
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The sidecar took $19mn of cat losses relating to the California wildfires.
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Founding partners DeCaro and Rettino will continue to provide oversight and investment advice.
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UCITS fund diversification targets limit their capacity for US wind bonds.
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The aim is to capitalise on cat bond market’s robust growth and US peril concentration.
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He will be based in the Bermuda office and work to develop the underwriting associates.
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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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The hardening rate environment in Florida provided a mid-year opportunity for some, but overall there was little growth.
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Partial owner White Mountains said conditions for ILS investing are “attractive”.
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The manager’s Bermuda and Chicago teams have been boosted in recent months.
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Lauer and Bean work in operations and Denny on the investment side.
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The addition follows the launch of a new high-risk strategy earlier this year.
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The investor more than doubled its allocation to Elementum Advisors.
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The investment house made a blended 0.7% underwriting return via its holdings in Elementum funds and 7% cash yield from its ownership stake in the firm.
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Lynette Pirilla Walter takes on the chief legal officer role as John Drnek joins the firm in Bermuda as general counsel.
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The $20bn fund has 2% of its assets allocated to ILS, equal to about $400mn.
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Ben Somers, former head of investor relations, has left after more than 11 years at the company.
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Jagoda was one of the founding staff at Elementum.
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The specialist ILS manager has also made a number of senior appointments.
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CEO George Manning Rountree says the firm's Elementum Advisors business is in good shape.
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The investor bought a minority stake in Elementum last year.
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The $1.28bn fund allocates assets across multiple alternative strategies.
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Elementum is a “well-positioned business in an attractive sector,” the asset manager said in a Securities and Exchange Commission filing.
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The industry’s market heavyweights remain split amongst different types of ownership models.
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The minority sale will leave the firm operating independently, the firm’s co-founders told Trading Risk.
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The firm will invest $50mn in Elementum’s ILS funds.
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The Munich Re vehicle funded by Dutch pension fund service provider PGGM has reached $400mn for 2019.
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The ILS investor says 7 percent annual returns have made the asset class an attractive opportunity for the fund.
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A Monte Carlo roundtable debate was hosted by this publication.
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RenaissanceRe kept its stake in the $1bn reinsurance programme stable at $262.5mn while Swiss Re increased its line by $10mn this year to $185mn.
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Elementum took out the manager of the year title while American Financial Group was named the sponsor of the year.
