Pillar Capital Management
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The ILS manager leaderboard demonstrates the ongoing popularity of cat bonds.
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The investment firm’s ILS holdings were worth around $746mn at year-end 2022.
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The manager has gained increments from existing investors and inflows from new ones.
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The pension investor re-directed capital to the Pillar Opportunity fund as of January 2022.
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The consultant recommended the pension fund allocate $95mn to Pillar in 2022 after pulling a $41mn mandate from Nephila.
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The Bermudian ILS platform returned to profit after a loss-making 2018.
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This was a substantial improvement on the $0.8mn loss it filed in Q3 2018.
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The Bermudian ILS manager has been active in the primary segment since 2017.
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Alleghany recorded $3.3mn investment income from its ILS holdings, up nearly three-quarters year on year.
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The follow-up investments take its overall ILS allocation to up to $950mn, as it put in place mandates to respond to higher rates.
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It took a steeper 2018 loss from the ILS platform than in 2017.
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Its year-to-date result from the Bermudian ILS platform has produced a $1.2mn profit.
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