ILS managers

The Zurich-based fund manager will no longer manage two Falcon cat bond funds.

Zurich-based Solidum Partners will oversee the two funds, estimated to be worth $400mn, from 1 August.

Firming market an opportunity for the growing ILS fund, according to the analysts.

Ultimately, with advantages and challenges in any ownership situation, the parentage of an ILS platform is not going to be the determining factor in its success.

The industry’s market heavyweights remain split amongst different types of ownership models.

The firm will invest $50mn in Elementum’s ILS funds.

The reinsurance fund has ramped up in recent years to $700mn-$800mn.

The combination would have around $2.1bn of assets under management.

M&A deals have resulted in reinsurer affiliated businesses overtaking the market share of independent ILS firms, but asset managers have also grown their share via new launches since 2014.

One of my colleagues with an affection for Denis Kessler’s turn of phrase once labelled him the Beyonce of the reinsurance world.

Coriolis execs Diego Wauters and Martin Jones will stay for at least two years to continue to run the business.

Scor chairman and CEO Denis Kessler said the acquisition would help its ILS platform move into the top tier of the market.