Plenum Investments
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Key topics include private ILS growth prospects and the longevity of longtail interest. -
The figure comprises 5.48% of insurance discount margin and 3.96% of risk-free rate.
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The figure comprises 6.07% of insurance discount margin and 4.15% of risk-free rate.
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The yield figure comprises 6.53% of insurance discount margin and 4.28% risk-free.
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The total yield was 11.03% as of 27 June, including 4.3% of risk-free rate.
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Total yield was 10.93% as of 30 May, including 4.34% of risk-free rate.
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The total yield, inclusive of the risk-free rate, was down on the same period last year.
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The insurance discount margin is now at a similar level to where it was in the final week of March 2022.
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AuM remains generally flat at UCITS funds over the weeks since LA fires started.
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The UCITS cat bond segment has added 54% in AuM since Hurricane Ian.
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Hurricane Milton’s overall impact, based on the current pre-landfall scenario, could lead to “moderate losses” for Plenum’s funds.
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The strategy invests in subordinated bonds issued by European insurers.
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The ILS manager expects “minimal, if any, losses” to bonds in its funds.
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This is lower compared to 8.2% recorded by the index in H1 2023.
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The parametric structure would have paid out at slightly lower storm pressure.
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The manager’s conservative strategy posted returns of 7.61%.
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The firm told investors yields in the cat bond market are 'still very attractive'.
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The Zurich-based ILS manager has grown the fund by around 167% from $150mn as of mid-2021.
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The 2020 bond provides $125mn of parametric, per occurrence coverage.
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The fund is on course for its strongest year of returns since inception in 2014.
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The Florida hurricane season still has three months to run in a predicted above-average year.
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Hurricane Idalia will reach Jacksonville but will have weakened by then
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Tornados in the first six months of the year in the US were slightly above the 27-year average.
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The ILS fund now comes in at the 26th spot on Trading Risk’s ILS fund manager directory.
