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The insurer’s better-than-assumed cat loss in Q2 followed on from it burning through 48% of its aggregate cat reinsurance deductible in Q1.

Cat bond fund managers continue to reap growth as the industry has rebounded from its Covid dip.

He will oversee the company’s internal and external communications around ESG issues, as well as diversity and inclusivity initiatives.

He will join on 22 July, after Ben Rubin left the firm earlier this year.

The more cat bond focussed vehicle added just under $300mn in the half-year.

The firm’s ILS director Chin Liu said the half-year period was fairly quiet for catastrophe events.

The Canadian pension fund and the ILS fund provide Funds at Lloyd’s capital alongside traditional reinsurers.

Willis Re international chairman James Vickers said that the ILS market played a strong role in the Florida renewals, but it was becoming more difficult to judge the overall impact of the sector as more capacity stays behind rated balance sheets.

The French mutual has been looking to expand, with recent unsuccessful attempts to acquire Scor and PartnerRe.

Across a wide range of different ILS strategies, there are a number of managers that have failed to gain critical mass in the past 5 years.

The reinsurer upsized the transaction to $250mn, from a $150mn initial target.

The catastrophe bond’s price guidance was also tightened from the initial offer.