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The firm’s ILS director Chin Liu said the half-year period was fairly quiet for catastrophe events. -
The Canadian pension fund and the ILS fund provide Funds at Lloyd’s capital alongside traditional reinsurers.
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The firm said a process to try to sell the insurer was underway.
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This comes after the insurer raised $495.9mn from a Radnor transaction in Q1 2020.
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Across a wide range of different ILS strategies, there are a number of managers that have failed to gain critical mass in the past 5 years.
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The underwriter had worked with the ILS firm since 2018.
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In the later stages of its liquidation, the manager’s listed fund has made an 8% uplift in May on fire releases.
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Jasmine DeSilva will work on strategic initiatives and business development for the ILS services provider.
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The reinsurer is planning to accelerate growth in its insurance business.
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Reinsurers from Bermuda, the Cayman Islands and Japan have also provided capital to the syndicate for its 1 July launch.
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The former Peak Capital CEO has left the ILS platform he set up.
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The fund will limit capacity to $400mn or 1.5% market share, and minimise exposure to secondary risks.
