Results
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The fund manager operations booked management fees of $31mn. -
The Bermudian said its third-party vehicles were “sufficiently capitalised”.
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Fourth quarter inflows also included $111mn for its retro platform Upsilon
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The Medici cat bond fund experienced the largest growth in AuM.
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The firm told investors yields in the cat bond market are 'still very attractive'.
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The carrier said it expects to maintain combined ratio expectations as it takes a selective approach to casualty lines.
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Market softening likely to being in 2025 as new capital is tempted in.
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The independent manager’s post-Ian growth has helped it more than double from prior estimated assets under management.
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The Swiss Re Total Return Index climbed month-over-month throughout the year, to more than regain ground lost after Hurricane Ian in September 2022.
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Storms Pia and Henk, followed by a cold snap, follow three years of 100+ combined ratios for UK insurers.
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Meaningful softening in 2024 still unlikely, the ratings agency said.
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The performance continues an unbroken run of positive monthly returns in 2023.
