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The UCITS fund was launched in 2021 and invests in cat bonds and the money markets. -
The headline figure of $7.72bn includes $3.11bn of DaVinci equity plus debt.
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Shareholders are voting to approve being wound up on 18 December.
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The ILS unit’s AuM was higher by $100mn compared to $1.9bn as of 30 June.
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The fund will be denominated in US dollars and digital currencies.
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The new funds will target the US wealth market through financial professionals.
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The reinsurer confirmed its intention to reduce the K-Cession sidecar for 2025.
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Cheaper traditional reinsurance as of mid-year may have dampened deal pipeline.
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The failure of a Jamaica bond to pay out following Hurricane Beryl damage has brought focus onto the deals.
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Daniel Ineichen, former co-head of ILS, had been with the company for nearly two decades.
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The firm’s AuM in four key vehicles rose $526mn in Q3.
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Michael Rich left the portfolio management role in May.
