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The ILS manager will “pragmatically accept” a degree of credit risk in deals. -
Former ILS investors who left the space have looked again and re-allocated.
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It estimated insured losses from nat cats on track to exceed $135bn in 2024.
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CEO Jonathan Zaffino said he saw opportunities for expansion in casualty.
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Robert Salzmann has been with the Swiss Re insurer for a decade.
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Losses from Hurricane Milton are expected to affect only select junior structures.
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The fund will invest in listed and private transactions.
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Other capacity supporting the syndicate is mostly individual Names, sources have said.
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Athena Re provides coverage against terrorism in France and its overseas territories.
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The UCITS fund was launched in 2021 and invests in cat bonds and the money markets.
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Löw will succeed Bertrand Wollner on his retirement in April.
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The reinsurer took $743mn of nat-cat losses in the quarter.
