Sidecars

He led on structuring an innovative $1.15bn reinsurance stop-loss transaction in April.

Some reinsurers emerged as increasingly positive on the cat space, despite generally subdued risk appetites.

Scor said it had cut cat exposure by 21% in 2022 – ahead of a previously announced 15% target – as its P&C business booked a Q2 operating loss of EUR140mn ($143mn), compared with a EUR406mn profit last year.

The firm’s Medici and Fontana vehicles were hit by foreign exchange losses.

Jacquet previously served for five years at Credit Suisse ILS.

The hardening rate environment in Florida provided a mid-year opportunity for some, but overall there was little growth.

Its half-year gain was down slightly from 1.43% in the prior year period.

The ILS manager’s half-year report showed significantly lower holdings with Everest Re, as much of its portfolio has gone private.

The segment’s lustre has been dulled by losses and capital trapping.

The agency said casualty risk was attractive to investors for its low-to-moderate correlation.

Investors, fund managers and service providers are adapting in the face of potential large losses from secondary perils.

The firm aims to build on the origination capability of Fleming Re and Accelerant.