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Nephila’s income rose steeply owing to changes in its funds’ product mix.
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The slowdown was based on a conviction of “higher likelihood of frequency events” this year.
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Over 75% of insured losses attributable to severe thunderstorms, flooding and forest fires.
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The firm also posted a 56% increase in fee income.
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The manager is looking to buy positions on the secondary market.
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Losses from mid-sized nat cats added 9.9 points to the P&C combined ratio.
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The rise is equal to 5%-10% of catastrophe capacity purchased, including cat bonds, depending on region.
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Schroders moves into fifth place in the Insurance Insider ILS leaderboard.
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Two Eclipse Re notes totaling $34.8mn were issued last week.
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The deal announced in its Q2 results came as the carrier agreed a take-private deal.
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Cat bonds, private ILS and retro are "strongly overweight".
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