AuM data

The vehicle will launch with $200mn of equity contributed by all the manager's ILS funds.

Parent AIG’s cat losses remained elevated in line with the prior-year Covid-19-impacted quarter.

Markel’s overall ILS revenues dropped by 27% year on year as it lifted fronted premium written for the Bermudian firm.

Scor Investment Partners has announced that the assimilation of Coriolis Capital into its wider ILS business has now been completed, following an acquisition of the London firm in September 2019.

Average reinsurer return on equity (RoE) was just 4.8% over the past four years.

The news follows the reinsurer’s announcement that the executive would step down from his role at the end of April.

The firm reported a $100mn drop in ILS AuM to $1.4bn, although previously had said deployable capital was lower.

The fund’s worst ILS return to date is understood to be driven by investments hit by Covid-19.

Recent investor inflows to its cat bond UCITS have brought it to over $1bn assets under management.

The Insurance Capital Fund combines US wind cat bonds with subordinated debt issued by European insurers.

The company also lowered the attachment points on its per-occurrence and aggregate property catastrophe treaties after shrinking its portfolio.

Parent company AIG posted an underwriting loss for the period.