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The follow-up investments take its overall ILS allocation to up to $950mn, as it put in place mandates to respond to higher rates.
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Developments this year indicate third-party capital will be a disciplined participant requiring adequate risk-adjusted returns, Axis president and CEO Albert Benchimol said.
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The Markel co-CEO also said that “noise” around the performance of new acquisition Nephila will clear up by year end.
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Fee income rises by over two thirds to surpass $19mn for the quarter.
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“We're not trying to grow for the sake of growing,” Everest Re’s reinsurance chief executive John Doucette told analysts yesterday.
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The average ILS fund was down by 1.13% in May as measured by the Eurekahedge ILS Advisers Index.
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The investment comes as Hudson Structured surpassed $2bn of assets under management.
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Catastrophe losses contributed to a 3.1 percent fall in net asset value for the manager’s Diversified Income and Growth Trust in the past half-year.
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The trio of companies have all given their support to the auto start-up, with Third Point Re also providing reinsurance.
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All insurance has a social purpose but covers for lower income countries should probably be considered more impactful transaction than Florida coastal risk.
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Swiss funds active in ILS recorded stable or slightly increased allocations after 2017’s losses.
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The PK SBB scheme took a 4.5 percent gain from its ILS portfolio last year, as it and a number of peers reported slightly increased allocations to the sector.