Scor Investment Partners, Schroders Capital ILS and Beazley were among the winners at the Insurance Insider ILS Awards 2024 ceremony held in London last night.
The emerging field of cyber ILS risk was a highlight of multiple awards, with Beazley taking home the sponsor of the year award, partly due to its pioneering role in cyber cat bonds, whilst Axis’ Long Walk bond took out the first Cyber ILS award.
CyberCube won the Reinsurance Facilitator of the Year Award, having provided modelling for three of the five 144a cyber cat bonds that have come to the market so far while a new cyber loss index from Perils and CyberAcuView also took out an award for the initiative of the year.
Nephila’s Cassiopeia fund – set up to help address historic side pocketing – was a highly commended entry in the initiative category.
On the asset management side of the industry, Scor was crowned the Manager of the Year, having grown its assets under management (AuM) by 20% to $3.8bn over the course of last year, and entering the top 10 for fund managers by AuM.
The ILS manager was boosted by its second flagship fund, the Atropos Cat bond fund, surpassing $1bn in AuM by the end of March 2023, while judges also praised the firm’s strong results.
Newer independent firm Integral ILS took a highly commended mention in this category.
For the inaugural Fund of the Year Award, Schroders’ Core ILS fund was the winner, partly reflecting its technology-led portfolio optimisation strategies.
Blackstone Real Estate took home the Nat-cat Transaction of the Year Award for its Wrigley Re 2023-1 bond, as judges said the deal could open up new sources of business from the corporate real estate investment market. Another debut sponsor, German insurer VKB Group, was highly commended for its King Max Re deal.
For a photo gallery of the evening’s highlights please click here.
The full list of winners is as follows:
(Re)insurer/Sponsor of the Year: Beazley
Highly commended: Axis
Broker-Dealer of the Year: Aon Securities
Closing the Protection Gap Award: World Bank, IBRD CAR 131 for Chile
Cyber ILS Award: Axis, Aon Securities, CyberCube, Sidley Austin for Long Walk 2024-1
Highly commended: Gallagher Securities for PoleStar Re 2024-1
ESG Initiative of the Year: ILS ESG Transparency Initiative
Fund of the Year: Schroders Capital ILS, Schroder Investment Fund - Core Insurance Linked Securities
Highly commended: Leadenhall Capital Partners, Leadenhall UCITS ILS Fund
Initiative of the Year: PERILS and CyberAcuView, US Cyber Industry Loss Index
Highly commended: Nephila Capital, Cassiopeia Fund
Manager of the Year: Scor Investment Partners
Highly commended: Integral ILS
Nat-cat transaction of the Year: Blackstone Real Estate for Wrigley Re 2023-1
Highly commended: VKB Group for King Max Re
Reinsurance Facilitator of the Year: CyberCube
Young ILS Person of the Year: Josh Stannack, TP ICAP
Outstanding Contributor of the Year: John DeCaro, Elementum Advisors
End Investor Award: PGGM Insurance Linked Investments Team