AuM data

The convergence market contributed $10bn of growth to the reinsurance industry's capital base in 2013, Guy Carpenter estimates.

Swiss-based ILS fund manager Plenum has raised $10mn from institutional investors via a new managed account service with private bank Julius Baer, which allows investors to significantly leverage their ILS portfolios

Chicago-based ILS fund manager Elementum Advisors has promoted two staff, Jake Weber and Nick Jagoda, to the role of principals as of 1 January.

KKR founder George Roberts has said that leading ILS fund manager Nephila Capital generated "meaningful earnings" for the private equity firm since it took a 25 percent stake in the $9bn firm at the start of the year.

Fiona Mackenzie, head of investments for the New Zealand Superannuation Fund says that the $20bn pension fund prefers a smaller pool of external managers, according to an interview with Citywire Global.

Credit Suisse Asset Management has invested more than 80 percent of its assets in the private reinsurance market as it believes pressure on ILS returns is particularly acute in the cat bond market, according to a recent Credit Suisse analysts' note.

This month Trading Risk talks to Swiss Re's head of non-life risk transfer, Martin Bisping

The top tier of ILS fund managers eased off the growth pedal in 2013 as the challenge of deploying new funds became increasingly difficult in a highly competitive market.

Hedge fund Two Sigma Investments will take over as investment manager for SAC Re's assets after a sale deal was agreed for the Class 4 Bermudian reinsurer, sister publication The Insurance Insider reported

UBS analysts have predicted that investors would react positively should London-listed (re)insurer Amlin exercise an option to buy out its joint venture partners in ILS fund manager Leadenhall Capital Partners in 2014.

Private equity firm Aquiline Capital Partners has sold its stake in Pillar Capital Management, although it retains an investment in funds managed by the Bermudian ILS fund manager.

Leading ILS fund manager Nephila Capital offered a $1bn reinsurance cover to the Florida Hurricane Catastrophe Fund (FHCF) this year, Trading Risk has learned.