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If ILS capital is designed to be the ultimate home for catastrophe risk, how far should asset managers look to hedge their investors' bets?
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Elementum joins SBAI; Gemini Re targets mid-year launch; Willis sets up resilience insurance facility
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The Teacher Retirement System of Texas held $300mn in ILS as of 31 August 2017, which represented 0.21 percent of its total portfolio, the pension fund confirmed.
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Twelve Capital is exposed to the liquidation of Danish motor insurer Alpha Insurance via a EUR20mn ($24.8mn) private debt transaction issued in 2014.
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Nationwide Mutual and Heritage Insurance Holdings each expect to recover more than $100mn from cat bonds, Trading Risk reported this month.
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ILS asset manager Gemini Re has launched in Florida with $500mn of capacity, which will be used to target US risk, the company has confirmed.
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Insurtech start-up Extraordinary Re has announced that it will be using technology from exchange operator Nasdaq to run its new ILS trading platform.
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Dutch pension fund PFZW has reported that the value of its ILS portfolio fell by 13.3 percent year-on-year to EUR3.84bn at year-end 2017, but currency hedging losses outweighed the impact of catastrophe claims.
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Sompo International has set up a $62mn sidecar, Blue Lotus Re, to provide cover supporting its global catastrophe reinsurance portfolio in 2018
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The North Yorkshire County Council Pension Fund is looking for an ILS manager to manage between £110mn-£165mn ($153mn - $230mn) of its total assets.
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The Catco Reinsurance Opportunities Fund made a worse-than-forecast 27.6 percent loss for investors in 2017 after its fund manager significantly added to its wildfire reserves in December.
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Leadenhall Capital Partners is representing some of the key backers of Australian start-up life insurer Integrity Group, which has raised more than $165mn to support its launch