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ILS investors

  • Australia's A$117bn sovereign wealth fund has hired ILS specialist manager Elementum Advisors to manage a reinsurance portfolio on its behalf.
  • AM Best assistant vice president Steven Chirico told an audience at the Reactions alternative capital event that the agency is assessing at least three candidates for new hedge fund reinsurance vehicles
  • There is plenty of room for the ILS market to triple its current share of the reinsurance market, according to AlphaCat portfolio manager Paschal Brooks
  • Credit Suisse Asset Management is preparing to launch a second rated reinsurance entity less than a year after it helped establish Kelvin Re, Trading Risk understands
  • Leading ILS fund manager Nephila Capital has trimmed its net assets under management (AuM) by more than $500mn since the start of 2015
  • Institutional investors will continue to broaden their appetite for diversifying risk and the reinsurance markets will attract an ever-wider investor base, Michael Millette told an audience at the annual Insider New York event.
  • AlphaCat contributed $6.6mn to Validus Group's first quarter earnings, down from $15.7mn a year ago, reflecting lower management fees, higher financing expenses and its lower capital investment in AlphaCat-managed entities.
  • Everest Re raised $60mn of capital for its sidecar Mt Logan Re at 1 April, taking the vehicle's total assets under management (AuM) to $750mn, the carrier's CUO John Doucette said on a Q1 earnings call.
  • Towers Watson has suggested that investors adjust their reinsurance allocation to be "moderately underweight" relative to their target exposure, as pricing has fallen to trade in line with historical lows
  • Swedish pension funds dial up ILS; Vloedman launches ILS manager
  • A basket of seven cat bond-only funds tracked by Trading Risk has generated an average return of 0.25 percent for the first quarter, plunging from the Q1 2014 figure of 1.01 percent.
  • The New Zealand Superannuation Fund remains a "fan" of the ILS asset class even at current rating levels, but has reduced its exposure as it waits to see if market softening is a permanent trend, according to its head of investment analysis David Rae.
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