ILS

The Bermudian fund bought £280,000 of shares in the Lloyd’s investment platform.

The carrier is looking to raise annual aggregate protection from the new ILS deal.

ILS Capital described it as “the ultimate short-tail risk” but noted structural and sourcing challenges for ILS writers.

Markel said it has entered into consultation with staff at the ILS vehicle, which was launched in 2019.

This week’s news that the UK plans to introduce a statutory requirement for regulators to consider growth and competition targets will be taken by local ILS market observers as a modest win.

Axis Capital has signed up Patrick Witteveen, European head of investor relations at Securis, for a new role in its ILS division, Trading Risk has learned.

Theo Norris has joined Gallagher Re as a dedicated cyber ILS broker, moving from his Aon Securities role as acting ILS assistant vice president.

The Canadian pension plan Ontario Teachers’ will support three Lloyd’s syndicates – CFC, Beazley and Beat – via its initial deal.

The Dutch firm had given the AIG-owned platform a mandate that could range from EUR500mn to EUR1bn, covering US cat reinsurance.

After raising around $150mn to open its Nanorock fund, Ledger Investing believes casualty business is set to capture more investor interest.

Eclipse Re has issued a series of large private ILS issuances across four tranches totalling $277.2mn, significantly boosting year-to-date volumes, Bermuda Stock Exchange filings show.

The monthly loss on the Eurekahedge ILS Advisers index accelerated from 0.4% in August.