Markel

Trapped capital will add to losses from Michael, Jebi and the wildfires.

An annualised 5 percent loss since inception incorporates the retro fund's share price return.

Property treaty underwriter Nicholas James will be joining the Credit Suisse-backed syndicate in April next year.

Nephila's sale to Markel has completed, giving the (re)insurance holding company a 20 percent share of the overall ILS market.

The insurer revealed the sum in its Q3 results.

The buyback will reduce the volume of outstanding 2018-issued C shares by 0.2 percent.

Moving a step away from short-tail risks could be on the agenda after the insurer's takeover of the ILS giant.

It affirmed the carrier’s A financial strength rating.

Three-year returns from the London-listed Reinsurance Opportunities fund run by Markel Catco dipped below a level that could have triggered a continuation vote being put to shareholders in 2018.

ILS managers' income is going to be dented by lost performance fees.

The retro manager’s assets under management reached $6.5bn at the end of June, including trapped capital.

Lindsay held the role of co-chief underwriting officer at the Bermudian ILS manager.