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A market-wide loss of $700mn would amount to around 15% of the total amount of life ILS assets under management . -
Mortgage ILS issuance has totalled $787.2mn so far this year.
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The manager has made four appointments including two internal promotions.
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The fund has been adapting its investment strategy in light of inflation and rising interest rates.
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The Bermuda-based collateralised reinsurance platform Sussex Capital was set up in December 2017 and had more than $400mn of assets at its peak.
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The fund had taken major losses on cat-related investments, including through Southeast primary carriers Weston and Southern Fidelity.
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The recent ILS start-up was the only new mandate for 2022 after the Dutch firm had added two new mandates in 2021.
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The fund is on course for its strongest year of returns since inception in 2014.
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Hiscox and Aeolus are looking to capitalise on strong investor appetite for cat bonds this year with their respective fund launches.
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Private ILS outperformed cat bonds in August, as hurricane season earnings began to kick up a gear.
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The Elementum executive told Trading Risk New York that “appropriate returns” over time were the key to a sustainable ILS market.
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ILS capacity in the form of retained earnings and new inflows is shaping up to meet growing demand for reinsurance and retro coverage.
