ILS managers

The move follows Sal Tucci’s departure from the firm to set up Jireh Risk Advisors.

For the ILS market, perhaps more than any other, the outcome of this year’s high inflation is still to be determined. Unlike other industries that are suffering increased immediate costs, this sector’s performance – as always – is ultimately driven by events no one can foresee.

The new firm has registered Jireh Re (SAC), an unrestricted special purpose insurer, with the Bermuda Monetary Authority.

The asset manager’s reinsurance funds shrank 17% in its fiscal year to end October to reach $2.6bn.

The incoming president for insurance also highlighted the role Nephila could play in the transition to net zero.

The former analyst at Aeolus joins the growing number of ILS experts to join the firm.

Hurricane Ian’s legacy will undoubtedly lead to some shake-ups in the ILS sector, with ongoing progression outside cat and ESG strategies likely to be a focus.

The syndicate’s growth headroom is somewhat constrained compared to the Lloyd’s market average.

The ILS firm’s CEO Nilsen said life ILS was “poised for growth in a higher interest rate environment”.

The index year-to-date loss was trimmed to 3.41% in October, from 4.28% in September.

The bond will provide coverage up to 2026, extendable to 2029.

Baltesar worked for Hiscox Re and ILS before joining Credit Suisse ILS in 2019.