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ILS investors

  • Luxembourg-based Eskatos Capital Management has suffered a small crop loss in its flagship Multistrategy ILS Fund, according to the manager's monthly updates
  • Hannover Re is backing a new ILS fund, Leine Investment, that will be open to third party funds from 2013, Trading Risk can reveal.
  • RenaissanceRe's Top Layer Re sidecar took total claims of $412.5mn from the New Zealand and Japanese earthquakes in 2011, according to a ratings note from Standard & Poor's
  • Private equity-backed start-up Southport Re hopes to have written $100mn-$250mn of collateralised reinsurance limit after the 1 January renewals, according to CEO Glenn Weber
  • Munich Re looks poised to become the latest reinsurer to launch a third-party ILS fund after confirming that it is talking to potential investors
  • Third Point Re has attracted enough funding to launch its property cat venture for the 1 January renewals, Trading Risk understands.
  • Hurricane Isaac was a credit negative event for the Combine Re cat bond, ratings agency Moody's said, as losses from the storm are likely to erode more of the aggregate bond's deductible
  • Leadenhall Capital Partners has raised new funds worth more than $120mn over the past few months to take its assets under management to about $770mn from the start of September, CEO Luca Albertini told Trading Risk.
  • International catastrophe events caused losses for two sidecars in the second quarter.
  • Bermudian ILS manager Pillar Capital Management is set to launch a new lower risk fund as it fundraises for its first January renewal season under new management after recently rebranding from Juniperus Capital
  • Dexion Capital says it expects follow-on share issuances to be easier after raising just £40mn from the float of its ILS closed-ended fund DCG Iris
  • Second quarter gains have helped bolster performance among ILS fund managers but their first half returns are still lagging the Swiss Re Global Cat Bond Total Return index, according to results from a group of seven cat bond funds tracked by Trading Risk
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