Plenum Investments

The ILS fund manager reports that the cost of reinsurance via cat bonds is now “painfully expensive” for some cedants.

The three fires have already destroyed 7,539 buildings, and threaten a further 15,000.

The average second quarter returns for a group of ILS funds tracked by Trading Risk has increased to 1.36 percent, compared with 0.79 percent for the same quarter last year.

Zurich-based ILS manager Plenum has grown its assets under management (AuM) by almost 40 percent since the start of the year, to reach $355mn at the end of April.

The Zurich based asset manager has grown assets under management by nearly 40 percent since January.