AuM data
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The acquiring reinsurer will now run off the business.
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The reinsurer’s assets under management rose 14% to $3.3bn.
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Aside from the one-year view, 2023 remixes the track record.
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The firm told investors yields in the cat bond market are 'still very attractive'.
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The sidecars segment has been attracting inflows after returns hit a high note in 2023.
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In its semi-annual report for the six months to 31 July 2023, the manager said the fund had returned 2.74% over the half-year.
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The independent manager’s post-Ian growth has helped it more than double from prior estimated assets under management.
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The Swiss Re Total Return Index climbed month-over-month throughout the year, to more than regain ground lost after Hurricane Ian in September 2022.
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Nearly 90% of the fund’s allocation is in cat bonds, with a small allocation to other ILS securities and US Treasury Bills.
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Broker-dealers' year-ahead forecasts have undershot total final issuance in three of the last five years.
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Schwartz will set the firm’s investment process on its ILS, equity and debt strategies.