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If you rewind to Monte Carlo a decade ago, Nephila and other ILS managers were merely an exotic corner of the reinsurance markets – independent, small teams slugging away at building up franchises. Ten years on and the industry’s largest manager has just sold up to Markel in a landmark M&A deal, and the ILS top 10 have boomed from under $10bn to $68bn in size.
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Markel Catco investors must be prepared to take a critical look at some of the statements in the company’s half-year report.
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A new research paper suggests there could be more cause for gloom if cover becomes more unaffordable.
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ILS managers' income is going to be dented by lost performance fees.
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Even if you’re not currently in London, you’ve probably heard about the heatwave we’re experiencing here – we are not ones to shut up about the weather.
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ILS investors have shown that they’re not going to run from disaster losses.
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Last year the hot topic was how the ILS market would respond to the challenge of reloading after the string of hurricanes. But this year, the tables have turned.
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As Florida’s first hurricane in a decade, Irma was always going to throw a few curveballs to the insurance industry even if it wasn’t “the big one”.
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So who might buy in next? That will be the question Nephila’s peers will be wondering as it emerged that the Bermudian is looking for new investors to buy into its management company.
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Credit Suisse’s launch of Bermudian reinsurer Bernina Re shows a continued trend of major ILS managers developing in-house platforms that free up their reliance on fronting partners.
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The ILS market is often said to have destroyed the potential for there to ever be another "class of x" reinsurers, as there was in 1993 or 2001 or 2005, when a rush of start-ups followed major loss events. But ?maybe we could see the ILS market as a whole as the "class of 2008".
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The ILS market is often said to have destroyed the potential for there to ever be another "class of x" reinsurers.
