Casualty/GL
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The facility will provide reinsurance coverage over three underwriting years. -
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The carrier said European cat business needs further price improvement.
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The number of sponsors has risen from 46 about a year ago to 66 over the last 12 months.
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The transaction complements its previous acquisition of RMS in 2021.
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Growth was driven by strong returns and new investors entering the market.
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Winning higher-fee private ILS mandates will strengthen firms’ negotiating positions.
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Sidecar vehicles are being tailored to match investors’ objectives.
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The executive explored ILS options as MD of hedge fund Horton Point post financial crisis.
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The moves mark a major step in realising “trillion dollar” casualty ILS potential, according to Ledger Investing CEO Samir Shah.
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ILS investors’ stress over Gibson Re is unlikely to inhibit legacy ILS’s future.
