ILS managers

The carrier is looking to raise annual aggregate protection from the new ILS deal.

This week’s news that the UK plans to introduce a statutory requirement for regulators to consider growth and competition targets will be taken by local ILS market observers as a modest win.

Axis Capital has signed up Patrick Witteveen, European head of investor relations at Securis, for a new role in its ILS division, Trading Risk has learned.

The Canadian pension plan Ontario Teachers’ will support three Lloyd’s syndicates – CFC, Beazley and Beat – via its initial deal.

The Dutch firm had given the AIG-owned platform a mandate that could range from EUR500mn to EUR1bn, covering US cat reinsurance.

The Bermudian carrier took $188mn losses from Hurricane Ida and $60mn from the European floods.

Eclipse Re has issued a series of large private ILS issuances across four tranches totalling $277.2mn, significantly boosting year-to-date volumes, Bermuda Stock Exchange filings show.

HannoverRe said that EUR180mn of its EUR221.6mn ceded Ida losses stemmed from ILS businesses that Hannover Re fronts.

Despite the drop-off in AuM, Markel boosted ILS operating revenues significantly in the quarter.

The insurer’s reinsurance and ILS business is “performing strongly,” said outgoing CEO Bronek Masojada.

The new London Bridge framework is less useful to the bulk of specialist ILS asset managers than it is end investors.

The fund’s high risk, high return strategy will aim to replicate performance of the cat bond market.