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The combined $2.1bn offering will now look to develop common products and funds, according to the Coriolis CEO.

The deal announced in May takes the reinsurer’s ILS assets to $2.1bn.

The reinsurer announced it is looking at setting up a separate balance sheet to write risk on behalf of third-party investors.

The CEO stated that the carrier’s 7 percent growth target is not reliant on M&A.

The reinsurer cited its upcoming acquisition of Coriolis as part of plans to expand its ILS presence.

Trading Risk looks at the dominant themes that the ILS market will be discussing at the 63rd Monte Carlo Reinsurance Rendez-Vous in September.

Industry leaders have lifted the expected total loss to a new high.

The French reinsurer put the industry loss from the typhoon at $12bn-$15bn as it stated it is covered up to a $22bn market hit.

The reinsurer’s combined ratio deteriorated slightly due to Q2 weather events, as it benefited from retro recoveries.

The reinsurer’s $150mn Atlas IX Capital 2015-1 cat bond has partially triggered following an accumulation of PCS losses, sources said.

The combination would have around $2.1bn of assets under management.

M&A deals have resulted in reinsurer affiliated businesses overtaking the market share of independent ILS firms, but asset managers have also grown their share via new launches since 2014.