AuM data

Strong growth prospects for the ILS market are likely to depress reinsurance prices and pose a challenge to traditional reinsurers, Credit Suisse analyst Michael Zaremski said in a research note.

Reinsurers are revising their view of the role they play in the convergence markets as they increasingly target third party funds management business, according to various commentators

Dexion Capital says it expects follow-on share issuances to be easier after raising just £40mn from the float of its ILS closed-ended fund DCG Iris

Dexion Capital has raised £40.1mn, less than half the targeted £100mn, for its new listed ILS fund DCG Iris

RMS adds mortality to life model; Perils places $1bn; DaVinci affirmed; Glacier extended; Juniperus rebrands

Dexion Capital was due to close subscriptions to its proposed DCG Iris fund on 15 June, after Trading Risk went to press, as the fund manager made its second attempt to list a closed-ended ILS fund.

Luxembourg-based ILS fund manager Eskatos Capital Management has taken in a number of small new mandates since the start of the year amounting to about EUR30mn to take assets under management in its flagship Multistrategy ILS fund to EUR135mn.

Institutional investors are continuing to swell the convergence market as a stream of new mandates were approved before the official start of the US wind season on 1 June, Trading Risk understands.

Leadenhall Capital Partners has hired Simon Mason as an analyst to help with portfolio management and risk management.

Bermudian ILS fund manager Juniperus Capital will rebrand as Pillar Capital Management under the leadership of new CEO Chris McKeown, the company is set to announce today.

While assets under management in the ILS sector are likely to grow significantly the future market might not just be a bigger version of the present, said Nephila managing partner and co-founder Frank Majors.

Dexion Capital will seek to raise £100mn-£150mn from the IPO of its new London-listed ILS fund DCG Iris, the company told Trading Risk.