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The investment will be the first allocation to ILS for the public sector pensions investor Funds SA. -
The fund will offer additional spread versus other similarly rated corporate debt.
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The total yield is down 114bps from 9.94% compared to the final week of 2024.
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The ILS manager now has 13 individual partners and one corporate partner.
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There have been few retro exits despite softening amid cat bond competition.
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Non-loss impacted major property program rates were down by up to 20% at the renewal period.
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Cedants pursued property renewals “aggressively” amid excess reinsurer capacity.
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The fund limits positions in aggregate structures exposed to secondary perils.
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Cat bond market growth has exceeded broker-dealers' 2025 forecasts by some distance.
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The facility provides solvency support via a fresh equity injection under various scenarios.
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The Italian asset manager also plans to relaunch its multi-strategy ILS fund.
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The industry has continued to build and innovate through a third strong year of performance.
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The TPA approach to investing was adopted by US pension fund Calpers last month.
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The total yield is down 162bps from 10.31% in the last week of November 2024.
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There are various routes for ILS managers wanting to access the diversity of Lloyd’s underwriting.
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The European ETF launch has benefited from the performance of the Brookmont US cat bond ETF.
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The firm’s external AuM has grown by 175% from 2019 to $3.3bn in 2025.
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The firm anticipates potential growth in cyber cat ILS similar to property cat ILS post-2005.
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Assets under management in UCITS cat bond funds stood at $17.8bn as of 7 November, according to data from Plenum Investments.
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The cat bond market is on course for $56bn of notional outstanding by the end of this year.
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The outcome of Eaton Fire subrogation is an uncertainty for some vehicles.
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The two funds feed into the $892.5mn Schroder IF Flexible Cat Bond Fund.
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Japanese firm MS&AD acquired 80% of ILS manager Leadenhall Capital Partners in 2019 from another affiliate.
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The deal provides protection in Europe, after Mapfre Re’s debut bond last year covered US perils.
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The reinsurer is the second sponsor opting not to renew cyber coverage in the bond market this year.
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The shuttering of Munich Re Ventures reflected a focus on the reinsurer’s “core offering”.
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The sponsor has $140mn of cyber cat bond protection maturing in December.
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The carrier attributed the results to a significant fall in major-loss expenditure.
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The largest net individual loss was January’s California wildfires at EUR615mn.
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As the P&C market shifts, carriers are looking for growth from acquisitions.
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The reinsurer-linked manager now offers three ILS funds encompassing private ILS and cat bonds.
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The firm said this was due to planned returns of capital to ongoing investors.
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Total yield is down from 11.18% in the last week of October 2024.
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Some experienced investors are pivoting out of cat bonds and into the top layers of private ILS deals.
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The French reinsurer improved its P&C combined ratio by 7.4 points to 80.9%.
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Competition on price from traditional markets is weighing on bond market momentum.
