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The Australian sovereign wealth fund first allocated to the ILS manager in 2016.
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This latest funding round brings total committed capital for the collateralized reinsurer to $75mn.
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The firm’s follow-only Syndicate 2358 has grown its stamp by 67% to £150mn.
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Research by Kepler Absolute Hedge showed that seven out of the 10 best-performing alt credit funds were cat bond strategies.
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The fund’s allocation to ILS decreased for the first time in three years.
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As of year-end 2022, the fund’s largest ILS allocation was in a RenRe fund.
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The fund has been adapting its investment strategy in light of inflation and rising interest rates.
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Stress-test numbers were increased to 112, including scenarios of losses in multiple years, up from 105.
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The fund is on course for its strongest year of returns since inception in 2014.
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The IOP will be integrated into the Open Protocol reporting template.
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The Middle Eastern investor had built up a billion-dollar portfolio, but personnel turnover has ultimately driven it to reverse course.
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Ambassador was set up in 2021 with Embassy Asset Management the named investment adviser.
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Interest income also boosted the results, with net assets of $9mn rising to $10.8mn by the half-year point.
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The transaction covered a portfolio of $250mn in casualty risk premiums.
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The pension fund is seeking a strategy with “low or negative correlation to public equity”.
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The firm has moved to defend its plans against a rival strategy supported by a small group of investors.
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The investment firm’s ILS holdings were worth around $746mn at year-end 2022.
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The UK asset manager’s ILS strategy is operating across six of its multi-asset funds.
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The manager has gained increments from existing investors and inflows from new ones.
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At Trading Risk’s annual ILS conference, Lloyd’s CFO Burkhard Keese explained how the Corporation is working with the market to attract investors to participate in risk transfer across the Lloyd’s market.
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The firm identified market inefficiencies in its analysis of loss data.
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The AP2 fund noted currency-hedging effects, turbulent financial markets and Hurricane Ian as factors in its alternatives segment loss for the 2022 year.
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The alternatives manager acquired retirement services firm Athene in January, ahead of its $2bn ADIP sidecar raise.
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The securitised reinsurance tokens require a minimum investment of $20,000 in the US and $2,500 outside of the US.
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