AuM data
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Hiscox expects its ILS AuM to drop in 2020 as one of its investors indicated it will reduce its ILS commitments.
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First-event cover and the level of per-event deductibles in aggregate typhoon deals are being re-examined.
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The fund also lifted the size of a new mandate to Hudson Structured Capital Management as it withdraws from Nephila’s loss-making Palmetto fund.
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The $1.28bn fund allocates assets across multiple alternative strategies.
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The infrastructure of the ILS market is undergoing extensive renovation at the moment.
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The Bermudian ILS platform returned to profit after a loss-making 2018.
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The (re)insurer should benefit from profit commission later in the year, chief executive officer Darren Redhead said.
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Third-party investors recorded a $2.6mn underwriting profit for the year.
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The carrier posted $1mn investment income from its investment in AlphaCat funds for the period, compared to a $12mn loss in Q4 2018.
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The platform delivered $5.9mn in profit to Lancashire from its 10 percent stake in the funds.
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The Everest Re sidecar began 2020 with $819mn of assets under management.
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The investment comes as the Indiana Public Retirement System exited Nephila’s Palmetto fund in pursuit of a more diversified ILS strategy.