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Total assets have grown from $45.6mn at the end of July.
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This publication retraces the series of loss predictions made by the manager for its listed Reinsurance Opportunities Fund over the past year.
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The firm’s 2017 portfolio loss has risen 15.7 percent to 57.1 percent.
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The ILS market is often presented as the player in the (re)insurance industry with the deepest pockets, with access to trillions of pension fund wealth in worldwide bank vaults.
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The initial estimate suggests an ultimate outcome broadly in line with market expectations.
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The industry loss warranty will trigger based on a specified number of users in a network experiencing network failure.
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Hurricane Michael is likely to have triggered Floridian window industry loss warranties (ILWs), sources told Trading Risk. The window covers typically attach at ranges between $2bn-10bn and $7bn-15bn, covering Florida wind risks only.
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Neuberger Berman has a diverse base of investors in areas Cartesian Re's ILS platform has not drawn from.
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Former Marsh broker Richard Green has joined as regional head of the alternative risk transfer business.
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Terms of the deal were not disclosed.
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Appetite for last-minute cover appears muted ahead of Hurricane Michael’s landfall in Florida.
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The two firms both have large offices on the island, which could create overlap.