ILS investors

NatWest cited a reduction in relative risk-adjusted returns as it decreased allocations, while North Yorkshire reported outperformance across its trio of ILS investments.

Local government pensions funds in the UK are partnering up, creating new strategies and may seek diversification.

The Canadian pension fund and the ILS fund provide Funds at Lloyd’s capital alongside traditional reinsurers.

Just a few months into 2021, the first natural-disaster headlines of the year are already occupying the minds of ILS insurance risk-takers. The snowstorms that brought freezing conditions to Texas will be a challenging event to evaluate for a number of reasons.

The company said the funds raised would kick-start its effort to become a full-stack insurer.

It will also encompass impact investment manager BlueOrchard, although the microfinancier will keep its independent identity.

ILS Capital has invested seed capital in start-up InsurTech provider Pouch, which provides auto coverage for small businesses.

The manager says cedant demand is growing for larger transactions.

The report also found that reinsurance capital increased by 7% to $658bn.

The move is part of a wider strategic effort by the broking goliath to quantify the value of intangible assets.

Its quota share partnerships provide the equivalent of $4.1bn of capital support based on 1-in-250-year loss scenarios.

The ILS manager offered to repurchase 20% of Interval fund shares, but this failed to meet investor demand to exit.