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Net assets have grown 5% year-on-year to $876mn as of 31 October 2020.
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Target investments could include cat bonds and other reinsurance, though the allocation size is unknown. -
The deal is the carrier’s fourth ILS transaction of 2020.
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The 12 Days of ILS Christmas
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The carrier’s long-standing client Alfa has become an equity investor.
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A more diverse investor base is supplanting continued cutbacks from some ILS players, although Stone Ridge's participations are holding more stable than in prior years.
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The ILS manager expects investments will have low correlation with the financial markets.
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The Florida Retirement System's ILS allocations reached $740mn at the end of last year and the body will consider scaling up further in 2021.
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The downward move reflects the lagging impact of cutbacks in 2019.
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Investment returns rebounded to a 2.7 percent gain for the half-year to 30 April.
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With a target range of up to EUR100mn ($108.3mn), the PartnerRe stake is one of the fund’s smaller ILS allocations.
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