AuM data

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.

The deal gives life insurer and asset manager Eldridge the opportunity to take an equity stake in the future, with further capital commitments likely.

Assets under management at the sidecar rose 12.5% year-on-year to $900mn by the start of 2021

This came as Everest Re fell to a $44mn underwriting loss on a pre-reported prior-year reserve charge.