Former managing director at Aon Benfield Erik Manning has confirmed he is preparing to launch a new ILS and reinsurance-linked investment fund vehicle called Lutece Holdings which will be based in Bermuda.
The London market could withstand a scenario of two subsequent major catastrophe losses costing $200bn in total, according to a white paper from an industry steering group.
Global insured losses from natural hazards reached $30bn for the first half of 2016 - the highest level since 2011, according to Aon Benfield's Impact Forecasting unit.
