Stocks
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Lloyd’s CFO and COO Burkhard Keese told delegates at the London ILS 2022 Conference that the platform’s scope will widen beyond quota share structures. -
The fund’s prospectus showed 2017 was its only negative year since 2014.
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The company cited its continued Q1 2022 underwriting losses and recent rating downgrade.
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The ILS platform was transferred to Gallagher Re when it bought Willis Re last year.
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The former AlphaCat and Aspen executives have teamed up to bring an ESG focus to a new independent ILS platform.
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Experts say cyber ILS offerings including cat bonds could be near, but concerns over structures, modelling and correlation persist.
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Political violence and aviation coverages had been thrown into marine composites as the market softened.
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Swiss Re’s recent underwriting actions, model updates and risk repricing have prepared it to take on more secondary perils, according to its top team.
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The retro fund has redeemed 99% of share capital, returning around $106mn to public fund investors.
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Fontana investors will face a short lock-up period in the sidecar’s ramp-up phase, but thereafter there will be some “embedded liquidity.”
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The deal will also provide $100mn in new equity funding to the legacy carrier.
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The agency highlighted potential aviation losses from the war ranging from $6bn to $15bn.
