ILS
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The sector’s performance was better overall compared with September 2017.
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The casualty ILS platform said it now expects to do more secondary transactions.
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The broker-dealer said it would continue focusing on secondary trading activities.
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The combined ratio for Hannover Re’s structured reinsurance and ILS fronting business came in just better than target at 98.2%.
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Hiscox is approaching the January 1 reinsurance renewals “with excitement”, and is ready to deploy extra capital if pricing proves sufficiently attractive, the CEO said.
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The insurer also emphasized that it realised more than $300mn from selling two MGA operations.
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The reinsurer manager described Q3 net inflows as “broadly stable”.
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The ILS platform has dipped to $7.8bn in assets under management, as ILS revenues were down 44% after the sale of Velocity.
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It’s the third year that the New Zealand sovereign wealth scheme has increased its holdings in ILS.
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The Massachusetts retirement system issued a request for proposals from ILS managers.
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The major ILS investor described 2023 opportunities as attractive but said they were set to get more selective in the industry.