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The ILS manager said the cat bond sector could double to become a $70bn market in the next three to five years.
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The asset manager said this year’s conditions were the most attractive in ILS history.
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Hudson Structured Capital Management (HSCM) Bermuda has set up an insurance credit strategy seeded with $400mn of initial capital from Security Benefit Life Insurance Company.
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Structures have been developed that would avoid “excessive capital trapping”.
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The executive will build out Vesttoo’s capital markets team in the region.
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Following rate increases at 1 January, projected fund returns for 2023 are up several points year on year, with a boost also from higher Treasury rates.
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The CFO of parent company Markel has said it aims to lean into property cat through Nephila.
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Pure cat bond funds outperformed the sub-group which includes private ILS for the year.
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Nephila achieved significant rate increases at 1 January and expected the strong rate environment to continue this year.
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The former Lancashire treaty underwriter had worked at the ILS platform since October 2021.
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For the ILS market, perhaps more than any other, the outcome of this year’s high inflation is still to be determined. Unlike other industries that are suffering increased immediate costs, this sector’s performance – as always – is ultimately driven by events no one can foresee.