Stocks

The fund manager has previously raised capital via Bermuda share issuances under prior owners.

The ILS fund manager’s sixth bond of the year takes its issuance in 2019 to $123mn.

The minority sale will leave the firm operating independently, the firm’s co-founders told Trading Risk.

The newly listed carrier renewed $470mn of its core reinsurance programme, which includes its catastrophe bond Torrey Pines Re.

The deterioration pushed the retro fund’s 2018 loss to 46.7 percent for C shares.

Three tranches of Home Re 2019 1 notes were listed on the Bermuda Stock Exchange (BSX).

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.

A drought of retro cover may bolster Florida rate demands, sources suggest.

The fund’s ordinary shares added 0.85 percent during the month.

With Nephila’s market share slightly shrinking, RenaissanceRe and Gen Re moved up the Florida leaderboard.

The stake in Catco’s listed fund held by the Boston-based asset management firm crossed the five percent threshold last week.

The ILW-focused company plans to go public before the end of the year.