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Mt Logan Re investors took $133.8mn of losses in Q2 as its parent Everest Re suffered from adverse development on 2017 claims, undoing the benefit of reserve releases booked in the fourth quarter last year.
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Reporting to director of underwriting in London Megan McConnell, Ross Nottingham will lead Hiscox Re's North American underwriting team and strategy.
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Aspen CEO Chris O’Kane said the acquisition by Apollo would help the group have additional scale and “take Aspen to the next level”. -
ILS managers' income is going to be dented by lost performance fees.
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The retro manager’s assets under management reached $6.5bn at the end of June, including trapped capital.
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Premiums written by AlphaCat’s low-risk ILS funds overtook its high-risk premiums, as overall assets fell to $3.5bn.
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The reinsurer's ILS assets under management have now reached $1.6bn.
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The carrier also signed up 50 percent more investors during the July renewal.
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The move to add an industry veteran forms part of a larger strategy to expand in the US property and casualty (P&C) market.
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The top 10 ILS managers expanded their asset bases by just under 7 percent to $67bn in the first half of 2018.
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The team will join the investment bank’s asset management division, which will stay Bermuda-based.
