Australasia
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November hailstorms and current storms and bushfires racked up claims. -
The investment will be the first allocation to ILS for the public sector pensions investor Funds SA.
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The event is the second billion-dollar SCS event to hit the country within a month.
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The storm outbreak follows similar events in the area in 2020 and 2023.
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The TPA approach to investing was adopted by US pension fund Calpers last month.
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The issuance will be the fourth deal offered by the Lloyd’s carrier.
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Returns from cat risk investments stood at 20.1% for the year to 30 June 2025.
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Sources have said $1bn+ of fresh capital from the region is expected to be deployed in 2026.
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Samild held multiple roles including head of alternatives at the Future Fund.
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Losses were primarily driven by personal property lines.
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The firm has also updated the loss-calculation engines of existing Jeannie tools.
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ILS accounted for 2.5% of the pension fund’s total AuM.
