M&A

Orchid CEO Brad Emmons will continue in his role after the sale.

The Latin American investment bank has backed the ILS start-up to launch a new low volatility fund in 2019.

The retro manager also warned 2018 wildfire losses could exceed those of last year.

This comes after the (re)insurer shifted away from offering market-facing ILS vehicles.

Nephila's sale to Markel has completed, giving the (re)insurance holding company a 20 percent share of the overall ILS market.

Two M&A deals in the ILS sector in the past month provide a contrasting view on what kind of acquirers may step forward in the future.

Insurers and reinsurers of the future will have more of a focus on packaging and ceding out risk, but there may be cultural challenges to reaching that goal, according to speakers at the Trading Risk New York Rendez-Vous.

Neuberger Berman has a diverse base of investors in areas Cartesian Re's ILS platform has not drawn from.

Fairfax has taken its total share of Brit to 88 percent with the purchase from the Canadian pension fund.

The $1bn ILW specialist will be remained NB Insurance-Linked Strategies after the sale.

The reinsurer said the fronting operations were “a very different business” than its own ventures division.

The deal also brings RenRe one of the largest fronting providers.