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December and January people moves in the ILS market.
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US contracts are still pricing at a 10%-15% premium to January 2020 levels, but excess retro capacity may impact the smaller market.
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The retro specialist joins the firm as it prepares to expand its reinsurance interests after spinning out of Willis.
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Quarterly report reveals that bond prices went “sideways” in Q4, but market remains hard.
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Slew of maturities and competitive pricing environment make the cat bond market attractive for sponsors, brokers say
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Net assets have grown 5% year-on-year to $876mn as of 31 October 2020.
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Target investments could include cat bonds and other reinsurance, though the allocation size is unknown.
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The InsurTech announced a partnership with Lockton Re earlier this month, and completed a fundraise in the fall.
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The ILS manager is in cost-cutting mode as assets shrink, but the run-off may lead other ILS managers to reconsider their tactics with rated platforms.
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Retro deals make up a third of this year's volumes, versus a quarter in 2019.
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The new hire comes after a slew of senior appointments made by the start-up in recent months.
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The deal will provide the insurer with annual aggregate ILW cover.