-
The award of the mandates marks the California public pension plan’s entry into ILS. -
ILS has been a driver of innovation in reinsurance, Convergence 2025 attendees heard Wednesday.
-
The hire is the hedge fund manager’s third ILS appointment in the past year.
-
Key topics include private ILS growth prospects and the longevity of longtail interest.
-
Returns from cat risk investments stood at 20.1% for the year to 30 June 2025.
-
A cat-focused vehicle is “the missing piece” of Hannover Re’s ILS offerings, said Silke Sehm.
-
The allocation is around 3% of the fund’s total assets.
-
The alternative asset manager was founded in 2021 with offices in London, New York and Abu Dhabi.
-
The facility will initially focus on US, Bermudian and European business.
-
Pricing has hit historically soft market lows, based on secondary market pricing.
-
The manager’s largest ILS holding is in the cat-bond-heavy High Yield fund.
-
Cat bonds have outpaced the returns on private strategies in the year to date.
-
The new Verisk SCS model is increasing expected losses on aggregate bonds.
-
The Bermuda firm said HS Sawmill reflected its continued focus on life insurance.
-
The resource was developed by leading ILS managers and investors.
-
Deals would need to be sized at $50mn plus for transfer to capital markets.
-
Samild held multiple roles including head of alternatives at the Future Fund.
-
The ILS manager has $6.8bn in assets and will be led by MariaGiovanna Guatteri.
-
Axa IM’s acquisition by BNP Paribas was confirmed in July this year.
-
ILS executives talked pricing, capacity and opportunities in casualty at an ILS roundtable in Monte Carlo.
-
The market has learned lessons from earlier soft market phases that it will apply now.
-
Victory Pioneer Cat Bond Fund also added assets in the past month.
-
Arch set up Bermuda investment manager Arch Fund Management in February.
-
The figure comprises 6.07% of insurance discount margin and 4.15% of risk-free rate.
-
The leadership’s commentary spotlighted to value of ILS to the group.
-
The agency noted inflows to cat bond funds and investor interest in private ILS.
-
Competition from cat bonds in the top layers of programmes applied downward pressure on reinsurance pricing in 2025.
-
Dedicated reinsurance capital is on track to increase by 8% in 2025, the broker said.
-
Funds encompassing private ILS outperformed cat bond strategies in July.
-
Aspen Capital Markets earned $169mn in fee income in 2024 alone.
-
Hagood will stay on as sole CEO of Nephila Holdings, with Taylor continuing as president.
-
Benjamin Baltesar spent more than six years at Euler ILS.
-
The reinsurer’s capacity is hugely important to ILS firms, with few alternative providers.
-
This is the latest in a string of appointments made by the firm’s ILS unit.
-
Aaron Garcia will hold a senior role at the operation, sources have confirmed.
-
Reinsurers are confident on cat rates and ready to deploy ILS capital.
-
The firm’s ILS vehicles posted low single-digit growth in assets under management in Q2.
-
The ILS manager revised down slightly its forecast for the syndicate’s 2023 YOA.
-
ILS investors have fought shy of multi-peril aggs due to low confidence in SCS modelling.
-
The sidecar took $19mn of cat losses relating to the California wildfires.
-
The yield figure comprises 6.53% of insurance discount margin and 4.28% risk-free.
-
Around 95% of the Hiscox Re & ILS portfolio is rated rate “adequate” or better.
-
The unit said capital in the ILS market remains more than adequate to meet rising demand.
-
The ILS Advisers Fund Index reported a profit of 1.11% in June.
-
Markel announced the sale of its global reinsurance renewal rights to Nationwide.
-
Amid $17bn of new deals, cat bond activity included aggregate and cascading structures.
-
The bond will provide protection on an industry-loss basis, as reported by PCS.
-
The merged business of Twelve Securis ranked third among ILS managers for AuM, behind Fermat and RenRe.
-
Brian Hickey joins the firm from PE specialist AE Industrial Partners.
-
The reinsurer returned $216.7mn to investors in Q2.
-
The firm reported a net pre-tax cat loss of $414mn from January’s LA wildfires.
-
Managers believed end-investors value diversification and non-correlation of cat bonds over liquidity.
-
Cat bonds remain attractive for investors seeking risk-adjusted return and diversification.
-
He had spent 10 years at Securis, with seven of them as COO.
-
The fund was renamed from the Pioneer Cat Bond Fund.
-
The recommended “AIF lite” structure could be suited to cat bond lites.
-
The Diversified Alternative Fund’s allocation to cat bonds was up by 31% from $386mn at 31 January.
-
The Bermudian ILS manager has recently changed its name from Mereo Advisors.
-
The fund’s ILS portfolio is split between 70% property cat and 30% cyber risk.
-
This comes in at the lower end of the initial spread guidance of 725-775 bps.
-
Property cat-focused sidecar capital was up by approximately 10% in H1.
-
The sidecars will provide capacity for reinsurers and large insurance carriers.
-
Initial responses to ESMA’s report welcomed the long timeframes for any changes.
-
The third-party capital manager is a new entrant to the retro space.
-
Weighted average multiples were down as sponsors capitalised on demand to push spreads lower.
-
The total return for the Swiss Re Global Cat Bond Index stood at 0.61% for the month.
-
The body said cat bonds are closer to an insurance product than a security.
-
The awards celebration took place at the Hilton Bankside on 25 June.
-
Twelve Securis is now a challenger for the top spot on the Insurance Insider ILS leaderboard.
-
The bond is split across a Series 1 and Series 2 structure, with eight notes in total.
-
Everest Re increased the targeted size of Kilimanjaro Re across all four classes of notes.
-
The pensions scheme’s existing ILS holdings to Aeolus and HSCM are in run-off.
-
M&A and shifts in distribution arrangements bring risks and opportunities.
-
The fund lists Twelve, Swiss Re and Cambridge Associates as managers.
-
Pricing on all classes of notes are being offered at the bottom of the guided range.
-
AuM in GAIA Cat Bond Fund had grown to $3.9bn as of 31 May.
-
PCS's loss estimate for the March Missouri SCS pushed the bond beyond its exhaustion point.
-
The California Earthquake Authority upsized its Ursa Re deal by 60% to $400mn.
-
Buyers have turned to retro markets for covers where ILW pricing is less attractive.
-
The Californian insurer had a private deal, Randolph Re, that provided pure wildfire protection.
-
The firm said it was the first time a UCITS cat bond fund passed the $4.0bn mark.
-
Investors eyeing private ILS include opportunistic allocators keeping watch on storm season.
-
Everest Re has structured its deal into two sections targeting aggregate and per occurrence cover.
-
The sidecar renewed at $230mn for 2025.
-
The pension plan noted in June 2024 that it was exploring new options in ILS.
-
The fund was set up 18 months ago by cat bond investor Florian Steiger.
-
Total yield was 10.93% as of 30 May, including 4.34% of risk-free rate.
-
She was previously head of investor relations and business development for North America and Australia at Securis.
-
This followed a $650mn fall in April, after management change of the fund.
-
ILS offers efficient capital for underwriters, but casualty ILS transactions are complex.
-
The index provider revised up its return for March by 0.39 percentage points to 1.21%.
-
The Swiss pension fund has not disclosed an ILS allocation before.
-
The deals covered Euro wind and Italy quake, Florida hurricane and a retro bond.
-
The ILS market has won market share at the top of programmes as buying expands.
-
The bond will provide protection for Allstate’s Florida subsidiary, Castle Key.
-
The Italian sponsor has $237mn of limit maturing this July.
-
Some assets in the Medici Fund were transferred to a new UCITS strategy.
-
The bond will provide named storm and quake coverage in the US.
-
The bond is offering a spread range of 850-925bps.
-
The ILS manager’s total AuM increased to $2.2bn in 2024 from $1.7bn the year prior.
-
The fund was set up in 2015 to capitalise on higher post-event yields.
-
Debut sponsor SV SparkassenVersicherung also secured its target size of $100mn.
-
Fales will focus on creating investment opportunities for the carrier’s specialty reinsurance portfolios.
-
Some $200mn of fresh limit entered the ILS market as $3.4bn of deals priced.
-
Sources believe the market will grow gradually over years after its initial cluster of dealmaking.
-
The bond provides coverage on personal-lines property in Florida.
-
The series one notes will provide protection to the benefit of Twia.
-
The total yield, inclusive of the risk-free rate, was down on the same period last year.
-
The bond will provide multi-peril coverage on an industry loss basis.
-
The bond will provide storm protection in Florida and South Carolina.
-
Fermat and GAM announced that the former will take sole control of the GAM FCM Cat Bond Fund.
-
The deal will provide named Florida storm protection on an indemnity, per occurrence basis.
-
Florida Citizens upsized its latest Everglades Re deal by 50%.
-
The buzz in the air at ILS Connect told of a market entering its next growth phase.
-
Commutations need to be optimal for the sponsor and the investor to avoid sponsors taking back chunky risks.
-
The CEO said private ILS funds can generate additional returns of 10%-20%.
-
Richard Pennay also addressed the dip in cyber ILS activity.
-
Private ILS would benefit from extension spreads to manage investor concerns, the CEO argued.
-
The unit’s premium reduced by 4% for the first quarter.
-
The ILS manager also swung to an operating profit after posting a loss in Q1 2024.
-
All 29 funds tracked by the index returned a positive performance.
-
The bond will provide protection against named storm and thunderstorm.
-
The casualty ILS business now has $175mn in capital.
-
Cat bond sponsors continue to secure higher limits and lower rates versus their targets.
-
Investor interest and capital flows point to potential for ILS proliferation.
-
The bond will cover China, India and Japan quake and Japan typhoon.
-
The bond will provide protection against German and Japan quake.
-
Secondary market traders are baking in further loss potential after PCS increased its wildfire and Helene loss estimates.
-
This year’s ceremony will include the inaugural Women in ILS Award presentation.
-
January’s California wildfires meant third-party investors suffered a loss of $195.3mn.
-
Franklin Templeton’s allocations to ILS are managed by fund of funds manager K2 Advisors.
-
An allocation to insurance could “feel like a nice, calm port in the storm” amid wider market volatility.
-
He joined what was then Credit Suisse ILS in 2019, moving from Hiscox Re & ILS.
-
The executive formerly served in senior leadership roles at Nomura, Credit Suisse and Goldman Sachs.
-
The deal of the size was unchanged at $100mn.
-
He joined Nephila in 2023 from Lancashire as a senior underwriter.
-
Portfolio rebalancing was not triggered last week, but investors are now distracted and nervous.
-
Gokul Sudarsana has been with the company since 2020, having joined from Deloitte.
-
The Swiss rail pension scheme has been cutting its ILS allocation since 2018.
-
The Swiss pension fund’s ILS allocation stood at 4.9% of the total fund as of 25 March.
-
The bond will provide protection against China, India and Japan quake, and Japan typhoon.
-
The subject business covers a portfolio of residential insurance.
-
The sponsor is estimating a loss of ~$300mn in relation to one of last month’s US tornado events.
-
Sutton National and Bamboo Ide8 secured $170mn of sidecar and cat bond protection.
