ILWs

The firm noted that investor pushback at the January renewal had resulted in "the cleanest risk" being transferred to the capital markets.

UBS previously explored setting up an ILS offering, but instead opted to offer other firms’ products.

The new offering is structured to solve ongoing ILS market problems including trapped capital, extended settlement times, economic inflation, social inflation, non-modelled risks and pricing uncertainty.

The reinsurance and ILS leader joined the firm in 2012 during a “rollercoaster” year for industry loss warranties.

Reinsurers congregating in Bermuda flagged a lack of interest in helping under-capitalised Floridian insurers and under-priced diversifiers, with positive implications for ILS participation.

Former retro broker Erik Manning is leading the initiative having joined BMS Re in January.

The appointments aim to provide clients with a product-agnostic view on accessing capital in a capacity-constrained market.

The two top-performing funds in 2022 were interval funds.

The investment analysts wrote that market dislocation offered an opportunity to invest on attractive historic yields.

Conviction for ILS has shifted to ‘overweight’ from ‘neutral’ at the manager.

The former Aspen Capital Markets COO hopes to set up fronting partnerships for reinsurers wanting to build out in ILS.

The Swiss direct risk transfer platform will use the funds to help grow its team and develop products.