Lloyd's
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Oaktree will fund the syndicate and act as investment manager for its assets. -
There are various routes for ILS managers wanting to access the diversity of Lloyd’s underwriting.
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New catastrophe reinsurance Syndicate 2359 has an approved stamp capacity of £100mn.
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The issuance will be the fourth deal offered by the Lloyd’s carrier.
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The hedge fund had significant investment aims for the London market.
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The syndicate is expected to write ~$300mn of business in 2026.
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While rates have “definitely come down,” they were coming off a high base, Rachel Turk said.
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Ryan Alternative Capital Re was launched in partnership with Axis Capital.
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The capital supported sidecar-style syndicates and reinsurance start-ups.
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Syndicate 1440 was approved to assume business incepting January 2026.
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The ILS manager revised down slightly its forecast for the syndicate’s 2023 YOA.
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The headcount at the start-up now stands at around 40.
