ILS
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HannoverRe said that EUR180mn of its EUR221.6mn ceded Ida losses stemmed from ILS businesses that Hannover Re fronts. -
The insurer said its plan was to fully transition the book to the fund.
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Despite the drop-off in AuM, Markel boosted ILS operating revenues significantly in the quarter.
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The insurer’s reinsurance and ILS business is “performing strongly,” said outgoing CEO Bronek Masojada.
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The broking group has hired Sussex Capital’s Adam Champion and investment banker Niall Baird for the new venture.
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The new London Bridge framework is less useful to the bulk of specialist ILS asset managers than it is end investors.
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The fund’s high risk, high return strategy will aim to replicate performance of the cat bond market.
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The UK government’s policy paper provides for use of secondary legislation to make changes.
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There were new hires at Mt Logan, AlphaCat and Howden Bermuda.
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Sidecars have lost some of their lustre in recent years but are still generally seen as an efficient diversifier.
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Everest Re CEO Juan Andrade said appetite had gone “very much higher up in structures”.
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The new material provides frameworks for discussing ESG and aligning objectives.
