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ILS managers are still waiting for hard market growth. -
CatX said it is already working with institutional investors, including pension funds.
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The second iteration of the Bermuda sidecar has brought in additional investors.
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The Trustee had sought to accelerate the liquidation process while avoiding significant admin costs.
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The sidecar’s loss ratio improved by 139 points to 35% in the latest quarter.
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Prior-year cat loss years that are finally shaking out drove fee benefits in Q3.
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The carrier returned $369mn of capital to third-party investors in Q3 from investors in the Upsilon and Vermeer vehicles.
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Layr claims its platform can help brokers serve up to 6x more small business clients.
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With plans to support three different types of Lloyd’s syndicates, the vehicle intends to trade under the new name London Innovation Underwriters by 15 November.
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A market-wide loss of $700mn would amount to around 15% of the total amount of life ILS assets under management .
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The company’s on-risk Kilimanjaro Re cat bond volumes have been gradually shrinking in the past year.
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Doing so would save “at least $8.5mn in cash” based on the firm’s monthly operational expenditures, according to a recent motion.
