AuM data
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The ILS allocation increased in dollar terms and held steady in euros. -
The class of 2023-24 cat bond funds will grow existing investors and add new ones.
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The firm’s new name is inspired by 18th Century Swiss mathematician Leonard Euler.
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The deal freed up capital held against deals written in 2019 and 2020.
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The ILS industry offered 11 points of merit that justify cat bonds being eligible for UCITS funds.
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The deal takes year-to-date cat bond lite issuance to $367.6mn
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Schroders moves into fifth place in the Insurance Insider ILS leaderboard.
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The combined Twelve-Securis entity would be a top-five ILS firm currently.
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More than 30% of the fund's AuM is allocated to US windstorm-linked bonds.
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Sources said that Gallagher Re had ‘first mover’ advantage as the exclusive broker.
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Sub-1% management fee and performance fee-only structures have evolved in ILS.
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The Icosa Cat Bond Strategy now stands at $130mn in AuM.
