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The agency noted inflows to cat bond funds and investor interest in private ILS.
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Dedicated reinsurance capital is on track to increase by 8% in 2025, the broker said.
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The broker has nearly 20 years of experience in the reinsurance and retro markets.
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The fund’s ILS portfolio is split between 70% property cat and 30% cyber risk.
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Buyers have turned to retro markets for covers where ILW pricing is less attractive.
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The team will focus on building out Miller’s property treaty, retro and ILS capabilities, it’s understood.
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The broker has also hired fellow Aon broker Barry Gordon in a role trading ILWs.
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The bond was trading at around 12.3c on the dollar in the secondary market last month.
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There is the potential for cat bond H1 issuance to be a record breaking six months.
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The role will focus on international treaty, specialty lines and strategic advisory.
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Dispersion of returns was high, with the range 0.87% to -3.71%.
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Neuberger Berman’s AuM stood at $3.2bn as of 1 January 2025.