ILS managers

The second-largest ILS manager posted a $200mn incremental gain in assets under management in January as it said it chose not to draw down on some post-loss capacity.

Securis wins no-fee Kansas deal; PFZW still looking to expand ILS allocation; UK pension fund's £165mn ILS mandate

Assets under management (AuM) controlled by the top 10 ILS firms reached $64bn at the start of 2018, as Markel said that Markel Catco's asset base reached $6.1bn and as Credit Suisse Asset Management posted $8.8bn of assets.

Everest Re's Mt Logan sidecar reached $1.03bn of assets under management on 1 January, up by almost $200mn in the fourth quarter.

Bermuda-based Validus Holdings said $78mn of its $120.8mn Q4 losses were attributable its insurance-linked securities management unit AlphaCat.

The Health Care Foundation of Greater Kansas City allocated $10mn to the Securis Event Fund in late 2017, according to sources.

ILS managers are "running toward" the potential to grow their market share rather than running away from last year's losses, Willis Towers Watson Securities said in its latest market report.

Sompo International has set up a $62mn sidecar, Blue Lotus Re, to provide cover supporting its global catastrophe reinsurance portfolio in 2018

AIG's massive balance sheet could be an advantage to AlphaCat in giving it the leverage to target the insurance market, which few ILS funds have yet attempted on a significant scale.

AlphaCat's business has "great growth potential" to expand beyond its $3bn of assets under management, AIG president and CEO Brian Duperreault said on a call to discuss the carrier's $5.6bn takeover of Validus.

AIG said that the AlphaCat asset management franchise was one of the attractions of its $5.56bn bid for Bermudian (re)insurer Validus Group.

Convergence reinsurance capital rose by 9 percent throughout 2017, from $75bn to $82bn, Guy Carpenter said in its January renewals report.