ILS
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The Swiss-based team of Siglo has transferred to Cambridge Associates. -
The former co-head of ILS at Schroders left the bank last month.
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The state insurer is budgeting for an extra 43% of overall coverage in 2025-26.
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Magnani has served for more than 14 years in ILS broking roles.
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The ILS manager will “pragmatically accept” a degree of credit risk in deals.
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Former ILS investors who left the space have looked again and re-allocated.
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The scheme’s ILS allocation has held steady at 0.7% of the total fund.
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The ILS manager’s existing Medici cat bond strategy stood at $1.68bn in assets under management (AuM) as of 30 September.
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The 2025 target would be ~25% larger than the $3.56bn it placed for 2024.
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Management track record has been a factor in capital raising for 2025.
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Robert Salzmann has been with the Swiss Re insurer for a decade.
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The firm is understood to be reviewing contracts to bind coverage for 1 January.
