Mitsui Sumitomo
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Loss creep dragged down returns, according to index provider ILS Advisers. -
New aggregate demand from Japanese cedants may also present opportunities for ILS markets.
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The loss puts Mitsui Sumitomo’s $200mn Akibare Re 2016-1 cat bond around 94 percent of the way to attaching.
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The Luca Albertini-led ILS manager will become a direct subsidiary of the Japanese insurance group, rather than being held by MS Amlin.
