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The executive will build out Vesttoo’s capital markets team in the region. -
The capital management platform remains active but January renewals were fronted by the balance sheet.
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Cat activity and financial market volatility had impacted investor’s allocations to ILS and redemptions, Markel said.
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All four of the firm’s key third-party vehicles were profitable in the quarter.
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The headline market drop in AuM belies a more lively growth story for funds operating outside of the ILS major league.
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The Zurich-based ILS manager has entered a partnership with the new life ILS firm set up by former Securis CUO Paul Whiting.
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The former reinsurance CEO had previously parted ways with Bob Cooney after working together on a reinsurer start-up last year.
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The firm’s flood solution will be available to layer on top of existing parametric hurricane wind policies.
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The former Lancashire treaty underwriter had worked at the ILS platform since October 2021.
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The sidecar has stepped down in size over the past three years.
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The cat bond will pay out to Beazley if total claims arising from a cyber attack on its clients surpass $300mn.
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The executive said many reinsurers have secured the pricing and terms necessary to cover their cost of capital.
