Stocks
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The Diversified Alternatives fund will invest in ILS deals and alternative lending, real estate and other sectors.
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This is the second Asagao deal, following a two-year $69.9mn transaction issued last September.
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The reinsurer said its worst-case cancellation losses would run to the mid-triple-digit millions, with a 15 percent market share.
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ILS market may experience short-term capital constraints, but could benefit from long-term growth, sources say.
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Pricing for quake exposures is understood to be broadly flat. -
John Seo noted the diversification benefits ILS offers in tumultuous times as cat bond segment avoids spillover from market turmoil.
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But the merger will still create opportunities for rival brokers to claim market share.
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The firm's K sidecar avoided major Dorian claims, as the firm also grew its whole-account covers.
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The small gains come as the fund makes payments to investors.
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This came as major losses ceded to retro partners reached EUR541mn.
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The company will delist from the New York Stock Exchange as the listed ILS fund sector heads for closure.
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Having a $20bn-revenue organisation would create the ability to invest more heavily in new solutions, including tech.
