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The Sussex Capital ILS platform managed $440mn at its 2019 peak. -
Citizens also secured $1.1bn of limit for its Everglades Re cat bond.
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The capital will be allocated to a pure cat bond strategy, sources have confirmed.
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The capital will be deployed by Bermuda-based special purpose insurer Arachne.
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Combined AuM of UCITS funds stood at $11.3bn as of 26 April 2024.
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The pension fund’s ILS allocation as of the end of 2023 was CHF300.3mn ($356.8mn).
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Over Q1, the loss ratio improved by 34.6 points year on year to 43.7%.
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ILS returned 3.2% for the scheme in the first quarter.
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The platform’s ILS holdings comprise cat bonds and UCITs funds, and were up 8% over January and February.
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The syndicate snatched the number one spot from Chaucer’s Syndicate 1176.
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Fee income was up by 30% year-over-year to $136mn in 2023.
