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Swiss-based ILS fund manager Plenum has raised $10mn from institutional investors via a new managed account service with private bank Julius Baer, which allows investors to significantly leverage their ILS portfolios
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Collateralised retro writer Catco declared a net return of 21.9 percent for its listed Catco Reinsurance Opportunities Fund in 2013 and said it has significantly de-risked its portfolio for 2014.
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New Ocean Capital Management, the asset manager formed by XL Group and Stone Point Capital, has revealed that it received capital commitments from private equity fund Dowling Capital Partners and an unnamed global asset manager to invest in the January renewals.
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Catco will pay out $0.028 per share to the original investors in its London-listed fund after it settled a liability associated with the 2011 Japan earthquake, the company announced today (14 January).
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The average ILS fund gained 0.47 percent in November, taking 2013 returns for the 11 months to 7.52 percent, according to the Eurekahedge ILS Advisers Index.
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Stone Ridge's two ILS funds reported returns of between 4.5 and 5.6 percent for the nine months to the year ended October 31, 2013, according to its first annual report.
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Blackstone fund builds cat bond book; Blue Capital adds $23mn; Elementum sets up Bermuda SPI
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Money managers were the fastest-growing sector in the cat bond investor market in 2013, Swiss Re estimates.
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The Coca-Cola Company's pension fund has moved into reinsurance after lifting its allocation to alternative investments over the past year, according to regulatory disclosures.
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The London-listed Catco Reinsurance Opportunities Fund may pay a special dividend to investors from its 2013 returns, the company said this morning (6 December).
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American International Group (AIG) is seeking to add $100mn to its Tradewynd Re cat bond reinsurance with a new shorter-term issuance that covers the same risks transferred in its $125mn July deal, Trading Risk understands
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A strong investment performance from Third Point LLC has driven an 18 percent increase in Third Point Re's third quarter profit, according to its first set of results since going public in August
