Casualty/GL
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RenRe will be taking control of ILS manager AlphaCat as part of its purchase of Validus Re. -
The non-catastrophe ILS platform hit a valuation of $1bn after a Series C funding round.
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The marketing executive previously worked at iCapital and Fitch.
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The company said the result was "encouraging given the challenges of ILS capital raising".
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The aim is to launch a casualty ILS product that would enable Saudi investors to access US casualty risk.
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The casualty ILS fund has been on a hiring spree since its $75mn Series B fundraise in June last year.
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A canvass of Lloyd’s market executives generated an expected combined ratio of 92%-93% for 2022.
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The carrier is confident the positive cycle will continue as it prepares for April, June and July renewals.
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The executive was previously head of casualty underwriting for EMEA.
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Key themes of the renewal that resonated across the ILS investor base include the elevation of attachment points, though lack of take-up of named perils coverage may disappoint some.
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The former analyst at Aeolus joins the growing number of ILS experts to join the firm.
