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Renewal rates were favorable compared to what could have happened after several hurricanes.
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His leadership roles included overseeing the firm’s capital solutions group.
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The firm’s assets under management were down $300mn in Q1 as performance fee income was hit.
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January’s California wildfires meant third-party investors suffered a loss of $195.3mn.
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The carrier announced a major writedown in its L&H book last year.
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The storm made landfall in Queensland, Australia at the beginning of March.
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SCS losses were also above average in Q1 due to “lingering” La Niña conditions.
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Franklin Templeton’s allocations to ILS are managed by fund of funds manager K2 Advisors.
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An allocation to insurance could “feel like a nice, calm port in the storm” amid wider market volatility.
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The carrier surpassed the retention on its annual aggregate reinsurance cover for the year to March 31.
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Insured losses were the second highest on record for the first quarter.
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Fully placed, this would equate to $275mn on the per-occurrence tower and $675mn on agg.