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At 31 January this year, the fund’s net assets reached $62.4mn, almost double the $34.2mn total assets at the same point last year.
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It is “probably one of the best times to invest” in ILS, according to Leadenhall Capital Partners CEO Luca Albertini.
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Returns from ILS funds tracked by Trading Risk fell to an average Q1 return of 0.63 percent to 0.65 percent in cat bond and multi-instrument funds.
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Cat bond investors are being more careful in assessing where to put their funds after recent losses, Aon Securities CEO Paul Schultz said at Trading Risk’s ILS conference in London this month.
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A tighter cat bond market persisted into the first quarter of 2019, with new issuance activity expected to remain subdued heading into the hurricane season.
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Both tranches of Fema’s $300mn FloodSmart Re cat bond have priced at the upper end of the initial guidance.
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Lane Financial’s latest report shows the best cat bond returns since 2012/13.
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Loss creep dragged down returns, according to index provider ILS Advisers.
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The executive predicts more differentiation between cedants at the upcoming Florida renewals.
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Stone Ridge’s Interval fund has shrunk due to catastrophe events and investor redemptions.
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The placement should keep the insurer’s bond total at $900mn.
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Pioneer ILS Interval Fund’s net assets decreased by 8.8 percent to $904.6mn in the three months to 31 January, according to an SEC filing.