Swiss Re
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The award of the mandates marks the California public pension plan’s entry into ILS. -
Sources have said $1bn+ of fresh capital from the region is expected to be deployed in 2026.
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Charles Mixon joined the firm a year ago in a business development role.
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The ILS manager has $6.8bn in assets and will be led by MariaGiovanna Guatteri.
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The P&C division booked a combined ratio of 81.1% for the first half of 2025.
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California wildfires account for $40bn of the insured loss tally in H1.
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Amid $17bn of new deals, cat bond activity included aggregate and cascading structures.
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The fund lists Twelve, Swiss Re and Cambridge Associates as managers.
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The company is a wholly owned subsidiary of AmTrust Financial.
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The reinsurer had $2.8bn of natural catastrophe business up for renewal in the year so far.
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Sources believe the market will grow gradually over years after its initial cluster of dealmaking.
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Investors want transparency from managers regarding the impacts of climate change.
