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The Florida P&C market is set to be the next area of focus for mergers and acquisitions as companies seek liquidity, sources told sister publication The Insurance Insider
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The ILS investor base may be changing as some pull back in response to falling returns but the market should still see steady growth, according to an expert panel at the ILS Bermuda Convergence 2015 conference yesterday (11 November)
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Gibraltar hopes to offer a platform for listed exchange-traded instruments (ETIs) by late 2015 that could open up a new route for ILS fund managers to market in Europe.
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Markel has subscribed for 25 million voting rights in the Catco Reinsurance Opportunities Fund, equivalent to a 6.91 percent share.
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The Indiana Public Retirement System has allocated $50mn mandates to both Nephila Capital and Aeolus Capital Management, a spokesperson for the fund confirmed.
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Negative collateral yields on euro-denominated cat bonds, unthinkable before Europe's debt crisis, have been flagged as a possible issue for the ILS market.
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Alleghany reported $7.3mn of income in the third quarter from its funds invested with Bermudian reinsurance manager Pillar Capital, a 46 percent increase from the $5mn it earned in Q3 last year.
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The ILS Advisers index gained 1.03 percent during September, taking nine-month returns for 2015 to 3.55 percent
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Stone Ridge Asset Management has registered a new fund that it would use to raise and deploy capital after a major catastrophe event
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Former Pimco investment executive and Armored Wolf founder John Brynjolfsson will be joining James Alpha Advisors
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Australian asset manager MLC and the Maryland State Retirement and Pension System both announced new ILS mandates this month.
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Catco is preparing to expand its listed retro fund, the Catco Reinsurance Opportunities Fund, by up to $750mn ahead of its integration by Markel.