AuM data
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The ILS firm reported $6.8bn of assets under management at the third-quarter mark.
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The ILS executive is departing the ILS platform following RenRe’s move to buy Validus Re for ~$3bn.
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The fund had taken major losses on cat-related investments, including through Southeast primary carriers Weston and Southern Fidelity.
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The recent ILS start-up was the only new mandate for 2022 after the Dutch firm had added two new mandates in 2021.
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Cat bond investors are sufficiently capitalised to fulfil demand from an anticipated strong pipeline of new issuance in Q4.
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Gallagher Re has stated that the alternative capital market has increased by 4%.
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The private equity firm is targeting $1trn in assets under management for the combined segment.
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The broker’s half-year 2023 report said reinsurers’ RoE has surpassed the cost of capital for second year running.
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Outside the cat bond segment, Aon said it was observing rising sidecar interest, putting volumes at $7.1bn from $6.4bn the prior year.
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The move comes as investors are on track to reject a bid from Liontrust.
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The ILS business ‘continues to be an important differentiator’, says Aspen CEO Mark Cloutier
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The industry’s ability to draw new capital will hinge on the outcome of the Atlantic hurricane season.