Secondary trading
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With more ILS managers chasing the popular bond space, how will new operators differentiate themselves? -
The firm joins other challenger brokers in tackling the stronghold of the cat-bond broking space.
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The transaction covered a portfolio of $250mn in casualty risk premiums.
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Some sources have called for more transparency on secondary trades, though others note the buy-and-hold nature of the market limits trading appetite.
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The casualty ILS fund has been on a hiring spree since its $75mn Series B fundraise in June last year.
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Former retro broker Erik Manning is leading the initiative having joined BMS Re in January.
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Lane Financial said that the cat bond market is suggesting that the early markdowns were an overreaction.
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Transparency and alignment of interests are the keys to expanding casualty ILS.
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FloodSmart Re bonds recovered by a few points in October after initial steep write-downs following Ian.
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The casualty ILS platform said it now expects to do more secondary transactions.
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The broker-dealer said it would continue focusing on secondary trading activities.
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There are few areas of overlap in the Willis Re-Gallagher Re combination but some details to be ironed out on the new executive team.
