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Secondary market activity and hedging would be likely if a Beryl-sized storm tracked toward the US.
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This is lower compared to 8.2% recorded by the index in H1 2023.
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DeCaro is one of the cohort of pioneering ILS managers.
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The Swedish fund AP2 invests in Fermat GAM, Elementum and Credit Suisse.
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Sources said that Gallagher Re had ‘first mover’ advantage as the exclusive broker.
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Sub-1% management fee and performance fee-only structures have evolved in ILS.
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The Icosa Cat Bond Strategy now stands at $130mn in AuM.
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Tanja Wrosch joins Twelve after more than a decade at Credit Suisse ILS.
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The regulation now allows pension funds a more flexible benchmark for measuring alternatives.
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Rich had spent 13 years at the firm where he began his career and oversaw a cat bond and ILS portfolio.
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