ILS managers

Pioneer Investment Management has published its first quarterly report for its new ILS Interval fund, disclosing sums committed to a number of reinsurance sidecars including Munich Re's Eden Re II and Brit's new Versutus Re vehicle.

Endurance CEO John Charman said the company's proposed $1.83bn acquisition of Montpelier Re would provide the company with a "natural introduction" to the business of managing capital for third-party investors.

AQR Capital Management is winding down its $445mn Bermuda reinsurance platform, as it said that it faced an increasingly difficult task to scale up the business and maintain returns in the current market.

Elementum Advisors has recruited Adam Maloney from JPMorgan Asset Management to fill the role of director of marketing and investor relations, the ILS fund manager announced.

Swedish state pension fund AP2 scaled up its ILS investments in 2014 and awarded a new mandate to Elementum Advisors, according to its latest annual report.

Top-line expansion for short-tail specialists slowed in 2014 as softening market conditions dampened growth opportunities, particularly in property cat.

The value of annual cat bond trading on the secondary market has more than doubled in the past four years, from $1.7bn in 2010 to $4.2bn last year, fund manager Elementum Advisors estimated.

Profits at Hiscox's reinsurance division dropped 18 percent in 2014 to £105.6mn, as the company's net earned reinsurance premium fell by 28 percent to £193mn.

Architas Multi-Manager has taken its stake in the London-listed CatCo Reinsurance Opportunities Fund above the 5 percent threshold.

Man Group, the minority investor in ILS fund manager Nephila, took a $9mn share in the company's post-tax profits in 2014, down from $11mn in 2013.

Former Scor Global Investments portfolio manager Maria Wittman Rapin has started a new role at Nephila Capital today (25 February), Trading Risk has learned.

Allied World reported $708mn of funds held with Bermudian manager Aeolus at the end of 2014, up 14 percent from $621.6mn a year earlier.