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The firm said the move would let it build a multi-vehicle capital management platform. -
The ILS allocation has posted returns of 5.5% for the year to date.
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More than 30% of the fund's AuM is allocated to US windstorm-linked bonds.
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Twia’s analysis showed existing rates were inadequate.
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The firm has observed a “more widespread investor base” in cat bonds.
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The insurance sector’s RoE is expected to exceed 10% next year.
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The negative L&H result was driven by reserve updates.
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The negative L&H result was driven by reserve updates.
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The backing represents a rare move from a collateralized reinsurer to take on risk in the legacy space.
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The insured loss from Beryl in the US was pegged at $2.7bn.
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He left his role as portfolio manager at Hiscox Re & ILS last year.
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Industry losses of $800mn-$1.2bn are expected from Beryl's impact in Texas.
