AuM data
-
Research by Kepler Absolute Hedge showed that seven out of the 10 best-performing alt credit funds were cat bond strategies. -
AuM stood at $1.5bn as of 30 September, up from $1.2bn as of January 2023.
-
The Zurich-based ILS manager has grown the fund by around 167% from $150mn as of mid-2021.
-
A new pooling structure allowed the firm to free up historic side pockets and provides a template for future exit options.
-
Steiger is said to be moving to an “entrepreneurial” role after more than six years with the Zurich-based firm.
-
The ILS sector grew in the context of 0% interest rates historically.
-
Hiscox said outflows from the ILS unit were offset by "record returns" in Q3.
-
The ILS firm reported $6.8bn of assets under management at the third-quarter mark.
-
The ILS executive is departing the ILS platform following RenRe’s move to buy Validus Re for ~$3bn.
-
The fund had taken major losses on cat-related investments, including through Southeast primary carriers Weston and Southern Fidelity.
-
The recent ILS start-up was the only new mandate for 2022 after the Dutch firm had added two new mandates in 2021.
-
Cat bond investors are sufficiently capitalised to fulfil demand from an anticipated strong pipeline of new issuance in Q4.
