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The ILS unit earned $5mn of fee income, down by $1mn year on year.
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The capital commitments to the vehicle have expired.
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The executive will build out Vesttoo’s capital markets team in the region.
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Following rate increases at 1 January, projected fund returns for 2023 are up several points year on year, with a boost also from higher Treasury rates.
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The CFO of parent company Markel has said it aims to lean into property cat through Nephila.
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Pure cat bond funds outperformed the sub-group which includes private ILS for the year.
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Nephila achieved significant rate increases at 1 January and expected the strong rate environment to continue this year.
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The former Aspen Capital Markets COO hopes to set up fronting partnerships for reinsurers wanting to build out in ILS.
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The world’s largest investment company has assets under management of more than $10tn.
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The former Lancashire treaty underwriter had worked at the ILS platform since October 2021.
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The move follows Sal Tucci’s departure from the firm to set up Jireh Risk Advisors.