AuM data
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The broker said ILS capital had reached $96bn at the end of Q1.
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Cat bond fund managers continue to reap growth as the industry has rebounded from its Covid dip.
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The insurance investment expert joins Jefferies with a brief to develop activity in EMEA’s primary and secondary insurance credit markets.
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Richard Anson previously served as head of ceded reinsurance at Antares and reinsurance manager for Aviva.
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The underwriter had worked with the ILS firm since 2018.
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Executives including AIG CEO Peter Zaffino, Aon CEO Greg Case and Munich Re CEO Joachim Wenning have joined the task force, chaired by Lloyd’s.
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The asset manager has previously invested in ILS via external specialists.
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The fund will limit capacity to $400mn or 1.5% market share, and minimise exposure to secondary risks.
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The investment house made a blended 0.7% underwriting return via its holdings in Elementum funds and 7% cash yield from its ownership stake in the firm.
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British Virgin Islands-based investor Eugenia II Investment Holdings had alleged fraud and misrepresentation after losing $7.5mn with the retro fund manager.
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The firm announced a gross performance of more than 10% on the fund since it was established in late May 2020.
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The executive was one of the Swiss bank’s most senior ILS executives and established their life fund.