UK and Europe
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The reinsurer took $743mn of nat-cat losses in the quarter. -
The UK Local Government Pension Scheme (LGPS) has around £391bn in AuM.
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Nat cat pricing is expected to be more or less flat, with rises on loss-affected programmes.
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The capital being returned to shareholders is part of a compulsory partial redemption.
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Tyler left Gallagher Re earlier this year.
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Daniel Ineichen, former co-head of ILS, had been with the company for nearly two decades.
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The outgoing CEO will leave the company at the end of March 2025.
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The latest issuance signals the second time the sponsor has entered the cat bond market.
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The carrier said it expected its Milton losses to fall below its EUR500mn ($537mn) Helene loss.
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Only around EUR70mn-EUR140mn will fall to private insurers.
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The bond provides protection in France and its overseas territories.
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The firm is also integrating changes to its process to allow it to cover wider ground.
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