ILS

The ILS expert had joined as a portfolio manager in 2018 from Ontario Teachers’ Pension Plan.

Fermat’s John Seo divided the potential incoming capital broadly into “fast” and “slow” capital.

The ILS manager said the cat bond sector could double to become a $70bn market in the next three to five years.

Higher rates and reserve releases connected to Hurricane Ian boosted results.

The asset manager said this year’s conditions were the most attractive in ILS history.

New brand H2’s first product is a policy management system that lets investors have access to their collateral accounts and other analytic data.

Financial terms of the transaction were not disclosed.

Merrimack Mutual, Cambridge Mutual and Bay State Insurance are seeking to raise $125mn from their debut ILS issuance.

Hudson Structured Capital Management (HSCM) Bermuda has set up an insurance credit strategy seeded with $400mn of initial capital from Security Benefit Life Insurance Company.

The ILS manager’s analysis highlighted that Lloyd’s nat cat exposure had lowered over the six years to 2021.

Reinsurer-owned ILS platforms were challenged to grow fee income in a tough year for nat cat losses and as cat market economics shifted.

The grant has so far supported cat bond issuances Kite Re and Greater Bay Re.