Fermat Capital Management
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Models need to be the start of the analysis not the end, Fermat boss John Seo said at Trading Risk’s event in New York. -
Avoiding a “bucketing” approach to risk-taking will help the ILS industry fill in the insurance protection gaps, according to Fermat managing director John Seo.
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The reinsurer helped Fermat to write $100mn for the Florida state reinsurer’s 2019 cover.
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Returns from ILS funds tracked by Trading Risk fell to an average Q1 return of 0.63 percent to 0.65 percent in cat bond and multi-instrument funds.
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The ILS investor says 7 percent annual returns have made the asset class an attractive opportunity for the fund.
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The firm’s Fermat-managed ILS portfolios lifted assets under management to $3.3bn in Q3.
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The average second quarter returns for a group of ILS funds tracked by Trading Risk has increased to 1.36 percent, compared with 0.79 percent for the same quarter last year.
