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The fair value of AP3's ILS portfolio rose by 10.7 percent to $560mn at year end in 2018. -
It is “probably one of the best times to invest” in ILS, according to Leadenhall Capital Partners CEO Luca Albertini.
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ILS investors were more frustrated by extended loss creep last year than by the overall hit, according to Michael Knecht of Siglo Capital Advisors.
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Returns from ILS funds tracked by Trading Risk fell to an average Q1 return of 0.63 percent to 0.65 percent in cat bond and multi-instrument funds.
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Shortfalls in retro capacity are not impacting all vehicles, said Tangency Capital co-founder Michael Jedraszak.
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Market participants have welcomed Lloyd’s plans to attract ILS capital but emphasised that cost reductions will be key to making them work.
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The New Mexico Educational Retirement Board pension fund invested in ILS via ILS Capital Management.
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Massachusetts Pension Reserves Investment Management (MassPRIM) appears to have lifted its allocations to ILS managers Aeolus and Markel Catco for 2019, despite taking losses in its first year of investing in 2018.
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The insurer kept its participation in the state reinsurance scheme stable at 45 percent.
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The New York-based asset manager received an increased level of requests for redemptions from investors in its Reinsurance Risk Premium Interval Fund this quarter.
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Third Point Re ended 2018 with a quarterly net loss of $298mn after suffering a net investment loss of $276.8mn.
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The past two years challenged the catastrophe (re)insurance market more than any period since the Hurricane Katrina era in 2004-2005 – but it is far from clear what the outcome will be this time around.
