AuM data
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The vehicle was supported by a group of institutional investors. -
Elliott Management, the other key suitor for the business, is understood to have dropped out of the auction.
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Partial owner White Mountains said conditions for ILS investing are “attractive”.
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CEO Luca Albertini has no immediate plans to step down but the firm said the promotion provided clarity on succession plans.
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The allocation increased in dollar terms by just under 2% during the past year.
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The ILS fund said the funding would support the company’s growth prospects.
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The firm reserved $40mn for Ukraine, citing ‘small net losses’ in Re & ILS.
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Third-party assets under management were up $100mn in Q1 at $3.6bn.
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The carrier posted 6% growth in reinsurance, with primary insurance premiums rising 15%.
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Company's Nephila ILS operations will focus on “significant” cat opportunities.
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Acrisure entered into a definitive agreement with Markel in March to acquire the MGA.
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The ILS platform delivered stable revenues as Markel spent $102mn on its Catco buyout.
