Axis Capital

The two ILS firms were among those participating in a $20mn fundraise for Elpha Secure Technology.

Hurricane Ian could present a challenge for ILS fundraising conversations this autumn if ILS firms do not find more financing solutions to manage trapped capital, according to panellists at Trading Risk New York 2022 last week.

How much capacity is available to meet rising cat reinsurance demands was a key theme throughout this year’s Rendez-Vous.

Berkley also increased its position in Global Indemnity and now owns around 8.5% of the firm.

The company aims to run off its cat and property business by 2024.

Fee income dropped 24% year on year, as premiums ceded to other strategic partners fell by 7%.

The property reinsurance underwriter had joined Axis Re’s London team three years ago.

Market orthodoxy suggests cross-class reinsurers secure more leverage – but are there too many implicit offsets in this game?

The ILS manager’s half-year report showed significantly lower holdings with Everest Re, as much of its portfolio has gone private.

The segment’s lustre has been dulled by losses and capital trapping.

The size has increased 40% to $140mn from $100mn.

The pricing on the storm and quake cover has shifted down from initial guidance, bucking early Q2 trends.