ILS Capital Management
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ILS veteran Kathleen Faries also advocated for an industry superhighway to transform the way risk is moved. -
The deal frees up 70% of the firm's total trapped capital.
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The asset manager said it would also be impacted by a slowdown in auto insurance premiums.
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The fund has cut back in retro but plans US insurance expansion.
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Using Kroll to rate Prospero Re allowed the firm to add customised ILS features to the rated structure, by having its fund investors own the platform.
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The Don Kramer-backed fund's Bermuda reinsurer Prospero Re has been given an A rating.
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The ILS Capital Management managing partner also sees opportunities in taking business from Lloyd’s.
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The firm’s 2019 portfolio has pushed further into specialty, US insurance and Lloyd’s risks.
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RenRe’s takeover of the reinsurer will shrink capacity, says ILS Capital’s Libassi.
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The New Mexico Educational Retirement Board pension fund invested in ILS via ILS Capital Management.
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ILS Capital Management has taken a minority stake in US insurer Producers National, the firm told Trading Risk.
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