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ILS investors

  • RenaissanceRe raised $62.5mn from third-party investors for its Upsilon vehicle in January 2016, less than half the $153.7mn of subscriptions received in full-year 2015
  • TransRe expanded its sidecar support from Pangaea Re and other vehicles to more than $400mn of limit in the January renewals, the company confirmed to Trading Risk
  • The ILS market is not yet at a point where its decline in relative value would lead investors to take money off the table, according to panellists at the Sifma IRLS 2016 conference.
  • Amlin earned £16.5mn ($23.5mn) of fee income from Leadenhall Capital Partners in 2015, up from £2.4mn in the prior year before it had consolidated the asset manager onto its balance sheet
  • Securis Investment Partners has launched its first UCITS-compliant cat bond fund, targeting a 4-5 percent return above Libor rates.
  • The average ILS fund gained 0.23 percent in January, as measured by the Eurekahedge ILS Advisers Index.
  • Hiscox's asset management platform Kiskadee Investment Managers is on track to reach $1bn of assets under management in 2016, the (re)insurer announced as it released its 2015 results today (29 February).
  • Blackstone is set to become the cornerstone investor in the reinsurance and transport finance funds being established by Michael Millette's start-up Hudson Structured Capital Management, sources told Trading Risk
  • Alleghany's share of profits derived from its stake in Bermudian ILS manager Pillar Capital and associated funds dropped by $1.1mn to $8.4mn in the fourth quarter of 2015
  • Canadian-listed investment company Premier Diversified Holdings has announced plans to invest another $316,000 in shares of Sequant Re Holdings, a Bermudian ILS manager
  • Enstar is seeking to raise $700mn of capital for its Aligned Re joint venture with UBS O'Connor, sister publication The Insurance Insider reported this week
  • Allied World has dropped its capital participation in funds managed by Aeolus to $200mn for 2016, down from $350mn last year, the carrier's CFO Tom Bradley said on an earnings call.
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