Results
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The firm’s AuM was down 17% on $1.8bn as of 31 December. -
The firm said it expects Capital Partners to continue to grow.
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Performance fees soared by 605% to $27.5mn from $3.9mn in Q1 2023.
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The firm expects pricing and terms and conditions to hold.
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The firm’s ILS unit expanded fee income by 10% over Q1 2023.
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The carrier has completed its 2024-25 reinsurance renewal.
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The fund has nine open contracts it is actively trying to run-off, four years after its failure.
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The syndicate snatched the number one spot from Chaucer’s Syndicate 1176.
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Fee income was up by 30% year-over-year to $136mn in 2023.
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Follow-only specialty Syndicate 2358 has reported a profit in both years since its launch.
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The carrier closed its Sussex Diversified Fund in October last year.
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The carrier’s non-life combined ratio improved by 5 points to 81.6%.
