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The firm has developed a capability to hedge commodity price risk and was originally backed by Ascot Underwriting. -
The firm aims to build on the origination capability of Fleming Re and Accelerant.
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Higher interest rates drove investment write-downs that offset a turnaround in underwriting performance after last year’s first quarter was hit by Uri losses.
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The firm will evolve its strategy but continue its focus on the aggregate product.
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Fontana investors will face a short lock-up period in the sidecar’s ramp-up phase, but thereafter there will be some “embedded liquidity.”
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The firm has refreshed its management line-up and said it would develop new low-correlation products.
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ILS funds were showing pockets of positivity as market dynamics shift.
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The insurance investment fund’s Brandon Baron will join Layr’s board of directors.
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Even though underlying ILS market conditions are improving, getting a hearing from investors could become harder.
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Reciprocal carriers could become more popular, but while this could better serve capital providers it does nothing to address underlying problems.
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Homeowners’ InsurTech Kin plans to expand staff, add products and move into new states with the new backing.
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Talks between the regulator and practitioners are ongoing, with the market picking out several key threads that could assist local transactions.
