AuM data

The reinsurance fund has ramped up in recent years to $700mn-$800mn.

The combination would have around $2.1bn of assets under management.

M&A deals have resulted in reinsurer affiliated businesses overtaking the market share of independent ILS firms, but asset managers have also grown their share via new launches since 2014.

One of my colleagues with an affection for Denis Kessler’s turn of phrase once labelled him the Beyonce of the reinsurance world.

Coriolis execs Diego Wauters and Martin Jones will stay for at least two years to continue to run the business.

Scor chairman and CEO Denis Kessler said the acquisition would help its ILS platform move into the top tier of the market.

New disclosure on the ILS manager shows AIG made a Q1 profit on its allocation to AlphaCat funds after a Q4 loss.

The broad portfolio, including ILS holdings, made a loss in the year to 31 March but the organisation did not mention any shift in its reinsurance strategy.

The fair value of AP3's ILS portfolio rose by 10.7 percent to $560mn at year end in 2018.

Carriers that wrote more premium include Swiss Re, Munich Re, RenaissanceRe and Everest Re, while Hiscox Re and Axis posted reductions in top line income.

AlphaCat’s $4.16bn net AuM was detailed in a recent Securities and Exchange Commission filing.

Markel has not actually come out and said what it plans to do with former top 10 ILS manager Markel Catco, but the likely money has to be on a gradual closure now that an overwhelming 91 percent of assets under management are due to be returned to investors, as claims development permits.